SilverBow Resources (NYSE:SBOW) Price Target Cut to $39.00 by Analysts at Truist

SilverBow Resources (NYSE:SBOW) had its price objective decreased by Truist from $43.00 to $39.00 in a research note issued to investors on Friday morning, The Fly reports. Truist currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded SilverBow Resources from a strong-buy rating to a hold rating in a report on Wednesday, December 8th. Truist Securities upped their target price on SilverBow Resources from $30.00 to $40.00 and gave the stock a buy rating in a report on Thursday, October 7th.

Shares of NYSE SBOW opened at $24.34 on Friday. SilverBow Resources has a fifty-two week low of $5.41 and a fifty-two week high of $34.83. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 4.41. The stock has a fifty day moving average of $24.30 and a 200-day moving average of $23.12.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings data on Wednesday, November 3rd. The company reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.62. SilverBow Resources had a positive return on equity of 87.03% and a negative net margin of 5.87%. The company had revenue of $99.25 million during the quarter, compared to analyst estimates of $79.00 million. As a group, sell-side analysts forecast that SilverBow Resources will post 10.64 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Morgan Stanley grew its position in shares of SilverBow Resources by 105.1% during the second quarter. Morgan Stanley now owns 1,442 shares of the company’s stock valued at $34,000 after purchasing an additional 739 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in SilverBow Resources in the second quarter worth about $51,000. Barclays PLC increased its position in shares of SilverBow Resources by 409.8% during the third quarter. Barclays PLC now owns 2,131 shares of the company’s stock worth $52,000 after acquiring an additional 1,713 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of SilverBow Resources during the second quarter worth approximately $74,000. Finally, Deutsche Bank AG purchased a new position in shares of SilverBow Resources during the third quarter worth approximately $174,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

SilverBow Resources Company Profile

SilverBow Resources, Inc is a growth-oriented independent oil and gas company. It engages in the acquiring and developing assets in the Eagle Ford Shale. The company was founded on October 11, 1979 and is headquartered in Houston, TX.

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