Truist Financial Increases SilverBow Resources (NYSE:SBOW) Price Target to $47.00

SilverBow Resources (NYSE:SBOW) had its target price increased by stock analysts at Truist Financial from $45.00 to $47.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 37.47% from the stock’s current price.

SBOW has been the topic of several other research reports. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 11th. Mizuho lifted their price target on shares of SilverBow Resources from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Roth Mkm assumed coverage on shares of SilverBow Resources in a research note on Monday, February 12th. They set a “buy” rating and a $41.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.00.

SilverBow Resources Stock Performance

Shares of SBOW stock opened at $34.19 on Tuesday. The company’s fifty day simple moving average is $32.54 and its 200-day simple moving average is $30.57. SilverBow Resources has a 52 week low of $22.00 and a 52 week high of $43.95. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88. The company has a market cap of $873.21 million, a PE ratio of 4.62 and a beta of 2.52.

SilverBow Resources (NYSE:SBOW) last issued its earnings results on Wednesday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.25. SilverBow Resources had a net margin of 24.41% and a return on equity of 16.48%. The business had revenue of $256.68 million for the quarter, compared to the consensus estimate of $272.27 million. During the same quarter last year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that SilverBow Resources will post 8.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in SilverBow Resources by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 170,301 shares of the company’s stock worth $5,814,000 after acquiring an additional 9,968 shares in the last quarter. Sei Investments Co. acquired a new position in SilverBow Resources during the 1st quarter worth $449,000. Swiss National Bank boosted its holdings in shares of SilverBow Resources by 16.6% in the 1st quarter. Swiss National Bank now owns 35,100 shares of the company’s stock valued at $1,198,000 after buying an additional 5,000 shares during the period. Empowered Funds LLC boosted its holdings in shares of SilverBow Resources by 8.0% in the 1st quarter. Empowered Funds LLC now owns 82,413 shares of the company’s stock valued at $2,814,000 after buying an additional 6,125 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of SilverBow Resources in the 1st quarter valued at about $444,000. 91.83% of the stock is owned by institutional investors and hedge funds.

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.