Allspring Global Investments Holdings LLC Grows Holdings in SilverBow Resources, Inc. (NYSE:SBOW)

Allspring Global Investments Holdings LLC lifted its stake in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 138.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,126 shares of the company’s stock after buying an additional 1,815 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SilverBow Resources were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC acquired a new stake in shares of SilverBow Resources in the 3rd quarter valued at about $1,395,000. Quadrature Capital Ltd acquired a new position in shares of SilverBow Resources in the 3rd quarter worth approximately $1,429,000. Wellington Management Group LLP acquired a new stake in shares of SilverBow Resources during the 3rd quarter valued at approximately $7,659,000. Adage Capital Partners GP L.L.C. bought a new position in SilverBow Resources during the third quarter worth $4,769,000. Finally, Swiss National Bank boosted its holdings in SilverBow Resources by 12.5% in the third quarter. Swiss National Bank now owns 33,200 shares of the company’s stock worth $1,188,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 91.83% of the company’s stock.

SilverBow Resources Stock Performance

SBOW opened at $33.18 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $31.88 and its 200-day moving average is $30.72. The stock has a market cap of $846.89 million, a PE ratio of 2.72 and a beta of 2.46. SilverBow Resources, Inc. has a twelve month low of $21.08 and a twelve month high of $43.95.

SilverBow Resources (NYSE:SBOW) last posted its earnings results on Wednesday, February 28th. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.89). SilverBow Resources had a net margin of 45.64% and a return on equity of 14.50%. The business had revenue of $212.04 million during the quarter, compared to analyst estimates of $231.43 million. On average, analysts predict that SilverBow Resources, Inc. will post 8.37 earnings per share for the current year.

Analysts Set New Price Targets

SBOW has been the topic of a number of recent research reports. KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 11th. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a report on Wednesday, February 28th. Roth Mkm started coverage on SilverBow Resources in a report on Monday, February 12th. They set a “buy” rating and a $41.00 target price for the company. Truist Financial cut their price target on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Mizuho restated a “buy” rating and set a $42.00 price objective on shares of SilverBow Resources in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.50.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an independent oil and gas company, exploration, develops, acquires, and operates 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.