SilverBow Resources (NYSE:SBOW) Trading Up 7.4%

SilverBow Resources, Inc. (NYSE:SBOW)’s share price traded up 7.4% during mid-day trading on Monday . The company traded as high as $33.57 and last traded at $33.29. 204,205 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 389,029 shares. The stock had previously closed at $31.00.

Analysts Set New Price Targets

Several research firms have weighed in on SBOW. TheStreet upgraded shares of SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Roth Mkm began coverage on SilverBow Resources in a research report on Monday, February 12th. They issued a “buy” rating and a $41.00 price objective on the stock. Mizuho upped their price target on SilverBow Resources from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial decreased their price target on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.67.

SilverBow Resources Trading Up 8.1 %

The business has a 50 day moving average price of $32.19 and a 200 day moving average price of $30.57. The company has a market capitalization of $856.10 million, a P/E ratio of 4.43 and a beta of 2.52. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.25. The company had revenue of $256.68 million for 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 16.48%. During the same period last year, the firm posted $0.95 earnings per share. Analysts anticipate that SilverBow Resources, Inc. will post 8.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in shares of SilverBow Resources during the first quarter worth about $928,000. Thomist Capital Management LP bought a new position in shares of SilverBow Resources in the first quarter valued at $18,129,000. Wesbanco Bank Inc. acquired a new position in SilverBow Resources during the first quarter worth $954,000. Denali Advisors LLC raised its position in SilverBow Resources by 62.4% during the first quarter. Denali Advisors LLC now owns 40,600 shares of the company’s stock worth $1,386,000 after acquiring an additional 15,600 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in SilverBow Resources in the fourth quarter valued at $582,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

About SilverBow Resources

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.