Roth Capital Brokers Cut Earnings Estimates for SilverBow Resources, Inc. (NYSE:SBOW)

SilverBow Resources, Inc. (NYSE:SBOW) – Stock analysts at Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for shares of SilverBow Resources in a report issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now forecasts that the company will earn $1.59 per share for the quarter, down from their prior forecast of $1.62. The consensus estimate for SilverBow Resources’ current full-year earnings is $8.21 per share. Roth Capital also issued estimates for SilverBow Resources’ Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.27 EPS, FY2024 earnings at $7.42 EPS, Q1 2025 earnings at $2.16 EPS and Q2 2025 earnings at $2.00 EPS.

Other equities analysts also recently issued research reports about the stock. Mizuho lifted their target price on shares of SilverBow Resources from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial decreased their price objective on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 5th. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. KeyCorp cut shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 11th. Finally, Roth Mkm assumed coverage on shares of SilverBow Resources in a report on Monday, February 12th. They issued a “buy” rating and a $41.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.67.

SilverBow Resources Price Performance

SilverBow Resources stock opened at $31.00 on Monday. The firm has a market cap of $791.12 million, a P/E ratio of 4.19 and a beta of 2.52. SilverBow Resources has a one year low of $21.08 and a one year high of $43.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day moving average is $32.19 and its 200 day moving average is $30.57.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.25. The firm had revenue of $256.68 million during the quarter, compared to analysts’ expectations of $272.27 million. SilverBow Resources had a net margin of 24.41% and a return on equity of 17.04%. During the same period in the prior year, the company posted $0.95 EPS.

Hedge Funds Weigh In On SilverBow Resources

Several hedge funds have recently modified their holdings of the company. Walleye Capital LLC purchased a new stake in SilverBow Resources during the third quarter worth about $1,395,000. Quadrature Capital Ltd bought a new stake in shares of SilverBow Resources in the 3rd quarter worth approximately $1,429,000. Wellington Management Group LLP purchased a new position in SilverBow Resources in the third 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 valued at $4,769,000. Finally, Swiss National Bank increased its position 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 buying an additional 3,700 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.

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.