SilverBow Resources (NYSE:SBOW) Stock Price Down 4.9%

SilverBow Resources, Inc. (NYSE:SBOW)’s stock price was down 4.9% on Tuesday . The stock traded as low as $30.38 and last traded at $30.76. Approximately 225,112 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 384,553 shares. The stock had previously closed at $32.35.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Roth Mkm initiated coverage on SilverBow Resources in a research report on Monday, February 12th. They issued a “buy” rating and a $41.00 price target for the company. Mizuho reaffirmed a “buy” rating and set a $42.00 price target on shares of SilverBow Resources in a report on Friday, April 5th. Citigroup assumed coverage on shares of SilverBow Resources in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $34.00 price objective for the company. KeyCorp cut shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 11th. Finally, TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SilverBow Resources currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

SilverBow Resources Stock Performance

The firm has a 50 day moving average of $31.19 and a 200-day moving average of $30.87. The company has a market cap of $783.46 million, a P/E ratio of 2.47 and a beta of 2.46. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.99.

SilverBow Resources (NYSE:SBOW) last posted its earnings results on Wednesday, February 28th. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.89). The business had revenue of $212.04 million for the quarter, compared to analysts’ expectations of $231.43 million. SilverBow Resources had a net margin of 45.64% and a return on equity of 14.50%. As a group, sell-side analysts anticipate that SilverBow Resources, Inc. will post 8.37 EPS for the current fiscal year.

Hedge Funds Weigh In On SilverBow Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. HBK Investments L P purchased a new position in shares of SilverBow Resources during the fourth quarter worth $582,000. Vanguard Group Inc. grew its position in SilverBow Resources by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 1,172,825 shares of the company’s stock worth $34,106,000 after purchasing an additional 263,131 shares during the period. Wellington Management Group LLP raised its stake in shares of SilverBow Resources by 1.7% during the 4th quarter. Wellington Management Group LLP now owns 217,753 shares of the company’s stock valued at $6,332,000 after buying an additional 3,632 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of SilverBow Resources by 108.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 582,373 shares of the company’s stock valued at $16,935,000 after buying an additional 302,413 shares during the period. Finally, American International Group Inc. boosted its stake in shares of SilverBow Resources by 18.8% in the fourth quarter. American International Group Inc. now owns 10,487 shares of the company’s stock worth $305,000 after buying an additional 1,663 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

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.