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

SilverBow Resources (NYSE:SBOW) had its price objective upped by equities research analysts at Truist Financial from $45.00 to $47.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 40.21% from the company’s current price.

Several other analysts have also weighed in on the company. Mizuho lifted their price objective on SilverBow Resources from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a report on Wednesday, February 28th. KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 11th. Finally, Roth Mkm started coverage on shares of SilverBow Resources in a research note on Monday, February 12th. They issued a “buy” rating and a $41.00 target price on the stock. 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 presently has an average rating of “Moderate Buy” and an average price target of $45.00.

SilverBow Resources Price Performance

NYSE:SBOW opened at $33.52 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.63 and a quick ratio of 0.63. SilverBow Resources has a one year low of $22.00 and a one year high of $43.95. The company has a fifty day moving average price of $32.31 and a 200 day moving average price of $30.56. The stock has a market cap of $856.10 million, a P/E ratio of 4.53 and a beta of 2.52.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $272.27 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Analysts anticipate that SilverBow Resources will post 8.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SBOW. Walleye Capital LLC acquired a new position in SilverBow Resources in the third quarter worth $1,395,000. Quadrature Capital Ltd bought a new position in shares of SilverBow Resources in the third quarter valued at about $1,429,000. Wellington Management Group LLP acquired a new position in SilverBow Resources during the 3rd quarter worth about $7,659,000. Adage Capital Partners GP L.L.C. bought a new stake in SilverBow Resources during the 3rd quarter worth about $4,769,000. Finally, Swiss National Bank increased its position in SilverBow Resources by 12.5% in the 3rd quarter. Swiss National Bank now owns 33,200 shares of the company’s stock valued at $1,188,000 after acquiring an additional 3,700 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

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.