SilverBow Resources (NYSE:SBOW) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of SilverBow Resources (NYSE:SBOW) from a hold rating to a strong sell rating in a research report sent to investors on Friday, Zacks.com reports.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Separately, Northland Securities set a $50.00 target price on Polarityte and gave the stock a buy rating in a research note on Friday, May 10th.

Shares of SBOW stock opened at $12.97 on Friday. SilverBow Resources has a 1-year low of $12.46 and a 1-year high of $31.94. The stock’s fifty day simple moving average is $13.73. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.45. The stock has a market cap of $158.73 million, a P/E ratio of 2.05 and a beta of 0.48.

SilverBow Resources (NYSE:SBOW) last announced its earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.19). SilverBow Resources had a return on equity of 33.18% and a net margin of 29.72%. The business had revenue of $72.06 million for the quarter, compared to analysts’ expectations of $68.80 million. Sell-side analysts predict that SilverBow Resources will post 6.2 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. DW Partners LP lifted its position in SilverBow Resources by 1.8% during the first quarter. DW Partners LP now owns 1,852,755 shares of the company’s stock worth $42,613,000 after purchasing an additional 32,702 shares during the period. Walthausen & Co. LLC raised its holdings in SilverBow Resources by 30.8% in the 1st quarter. Walthausen & Co. LLC now owns 280,527 shares of the company’s stock valued at $6,452,000 after buying an additional 65,983 shares during the last quarter. Globeflex Capital L P increased its position in SilverBow Resources by 88.0% during the 1st quarter. Globeflex Capital L P now owns 29,680 shares of the company’s stock valued at $683,000 after purchasing an additional 13,890 shares during the period. Acadian Asset Management LLC increased its position in SilverBow Resources by 18.9% during the 1st quarter. Acadian Asset Management LLC now owns 37,964 shares of the company’s stock valued at $872,000 after purchasing an additional 6,045 shares during the period. Finally, LSV Asset Management increased its position in SilverBow Resources by 1.5% during the 1st quarter. LSV Asset Management now owns 55,171 shares of the company’s stock valued at $1,268,000 after purchasing an additional 800 shares during the period. 82.82% of the stock is owned by institutional investors.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2018, it had proved reserves of 1,345 MMcfe. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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