Zacks Investment Research cut shares of SilverBow Resources Inc. (NYSE:SBOW) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

Several other research firms also recently issued reports on SBOW. BidaskClub raised SilverBow Resources from a sell rating to a hold rating in a research note on Thursday, September 28th. Stephens began coverage on SilverBow Resources in a research note on Friday, September 29th. They issued an overweight rating and a $28.00 price target on the stock. Northland Securities began coverage on SilverBow Resources in a research note on Thursday, September 28th. They issued an outperform rating and a $42.00 price target on the stock. Seaport Global Securities began coverage on SilverBow Resources in a research note on Tuesday, August 1st. They issued a neutral rating and a $25.00 price target on the stock. Finally, Johnson Rice began coverage on SilverBow Resources in a research note on Thursday, June 8th. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $31.67.

Shares of SilverBow Resources (NYSE:SBOW) traded down 1.54% on Wednesday, reaching $23.68. The company’s stock had a trading volume of 10,918 shares. SilverBow Resources has a 52-week low of $19.89 and a 52-week high of $35.70. The company has a market cap of $272.94 million and a P/E ratio of 0.59. The company has a 50 day moving average price of $22.52 and a 200 day moving average price of $25.33.

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In other news, CEO Sean C. Woolverton purchased 1,043 shares of the company’s stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $24.29 per share, with a total value of $25,334.47. Following the purchase, the chief executive officer now directly owns 64,847 shares of the company’s stock, valued at approximately $1,575,133.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sean C. Woolverton purchased 1,106 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $22.72 per share, for a total transaction of $25,128.32. Following the purchase, the chief executive officer now directly owns 63,804 shares in the company, valued at $1,449,626.88. The disclosure for this purchase can be found here. Insiders acquired a total of 5,315 shares of company stock worth $127,120 in the last three months.

Several hedge funds and other institutional investors have recently made changes to their positions in SBOW. Pentwater Capital Management LP bought a new position in shares of SilverBow Resources in the 2nd quarter valued at about $15,114,000. Matlinpatterson Global Advisers LLC bought a new position in shares of SilverBow Resources in the 2nd quarter valued at about $9,405,000. Wells Fargo & Company MN bought a new position in shares of SilverBow Resources in the 2nd quarter valued at about $7,476,000. Vanguard Group Inc. bought a new position in shares of SilverBow Resources in the 2nd quarter valued at about $4,637,000. Finally, State Street Corp bought a new position in shares of SilverBow Resources in the 2nd quarter valued at about $1,834,000. Institutional investors own 31.00% of the company’s stock.

About SilverBow Resources

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