State of Tennessee Treasury Department grew its position in shares of Southwestern Energy (NYSE:SWN) by 2.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 369,869 shares of the energy company’s stock after buying an additional 10,544 shares during the quarter. State of Tennessee Treasury Department’s holdings in Southwestern Energy were worth $1,720,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of SWN. EnCap Energy Capital Fund IX L.P. bought a new position in Southwestern Energy during the fourth quarter valued at about $41,018,000. BlackRock Inc. raised its holdings in shares of Southwestern Energy by 8.8% in the 4th quarter. BlackRock Inc. now owns 100,016,916 shares of the energy company’s stock worth $298,050,000 after purchasing an additional 8,105,964 shares during the period. Western Asset Management Company LLC purchased a new position in Southwestern Energy in the fourth quarter valued at approximately $4,533,000. JPMorgan Chase & Co. grew its holdings in Southwestern Energy by 51.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,294,942 shares of the energy company’s stock valued at $9,819,000 after purchasing an additional 1,118,843 shares during the period. Finally, Royce & Associates LP purchased a new stake in Southwestern Energy in the fourth quarter worth $2,806,000. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on SWN shares. Johnson Rice downgraded Southwestern Energy from a “buy” rating to an “accumulate” rating and increased their price target for the stock from $6.75 to $7.50 in a research note on Tuesday. Morgan Stanley lifted their target price on shares of Southwestern Energy from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Southwestern Energy from $3.50 to $4.75 in a research note on Tuesday, March 23rd. US Capital Advisors upgraded Southwestern Energy from a “hold” rating to an “overweight” rating in a research report on Friday, March 12th. Finally, Raymond James reiterated an “underperform” rating on shares of Southwestern Energy in a research report on Thursday, April 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.35.
Southwestern Energy (NYSE:SWN) last posted its quarterly earnings data on Thursday, April 29th. The energy company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Southwestern Energy had a negative net margin of 53.26% and a positive return on equity of 63.06%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $923.52 million. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, equities analysts expect that Southwestern Energy will post 1.01 earnings per share for the current fiscal year.
In related news, Director Gregory D. Kerley sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $4.47, for a total transaction of $670,500.00. Following the transaction, the director now directly owns 462,836 shares of the company’s stock, valued at approximately $2,068,876.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory D. Kerley sold 45,322 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $4.75, for a total value of $215,279.50. Following the completion of the sale, the director now owns 417,514 shares of the company’s stock, valued at approximately $1,983,191.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,000 shares of company stock worth $1,158,047. Corporate insiders own 0.99% of the company’s stock.
Southwestern Energy Company Profile
Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments: Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, Ohio, and West Virginia.
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