American International Group Inc. Boosts Holdings in SilverBow Resources, Inc. (NYSE:SBOW)

American International Group Inc. grew its position in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 50.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,511 shares of the company’s stock after purchasing an additional 2,848 shares during the period. American International Group Inc.’s holdings in SilverBow Resources were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBOW. State Street Corp increased its stake in shares of SilverBow Resources by 333.6% in the third quarter. State Street Corp now owns 1,007,014 shares of the company’s stock worth $27,069,000 after buying an additional 774,760 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SilverBow Resources by 1,481.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,747 shares of the company’s stock worth $9,432,000 after buying an additional 276,115 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of SilverBow Resources by 2,951.3% in the second quarter. JPMorgan Chase & Co. now owns 215,388 shares of the company’s stock worth $6,108,000 after buying an additional 208,329 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SilverBow Resources by 33.2% in the third quarter. Vanguard Group Inc. now owns 713,352 shares of the company’s stock worth $19,174,000 after buying an additional 177,934 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of SilverBow Resources in the first quarter worth $4,438,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Insider Activity

In other news, Director Marcus C. Rowland purchased 10,000 shares of SilverBow Resources stock in a transaction dated Monday, September 18th. The stock was bought at an average price of $37.00 per share, with a total value of $370,000.00. Following the completion of the acquisition, the director now owns 29,386 shares in the company, valued at approximately $1,087,282. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

SilverBow Resources Stock Performance

SilverBow Resources stock opened at $32.39 on Tuesday. The company has a market cap of $823.68 million, a PE ratio of 2.55 and a beta of 2.45. The company has a fifty day moving average price of $34.20 and a two-hundred day moving average price of $32.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.70 and a quick ratio of 0.70. SilverBow Resources, Inc. has a 12 month low of $19.13 and a 12 month high of $43.95.

Wall Street Analysts Forecast Growth

SBOW has been the subject of a number of research analyst reports. Truist Financial dropped their price target on shares of SilverBow Resources from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 6th. TheStreet lowered shares of SilverBow Resources from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. KeyCorp lifted their price objective on shares of SilverBow Resources from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Pickering Energy Partners started coverage on shares of SilverBow Resources in a report on Thursday, October 12th. They issued a “neutral” rating for the company. Finally, Northland Securities lifted their price objective on shares of SilverBow Resources from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 15th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, SilverBow Resources presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an oil and gas company, engages in exploration, development, acquisition, and operation of oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.