SilverBow Resources (NYSE:SBOW) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

SilverBow Resources (NYSE:SBOW) announced its earnings results on Wednesday. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.25, Zacks reports. The business had revenue of $256.68 million during the quarter, compared to analysts’ expectations of $272.27 million. SilverBow Resources had a return on equity of 17.04% and a net margin of 24.41%. During the same quarter last year, the business posted $0.95 earnings per share.

SilverBow Resources Price Performance

Shares of SilverBow Resources stock traded up $0.41 during mid-day trading on Friday, reaching $31.00. 237,370 shares of the stock were exchanged, compared to its average volume of 391,353. The company has a market cap of $791.12 million, a price-to-earnings ratio of 4.13 and a beta of 2.52. SilverBow Resources has a fifty-two week low of $21.08 and a fifty-two week high of $43.95. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $32.12 and a 200 day simple moving average of $30.68.

Analysts Set New Price Targets

Several research analysts have commented on SBOW shares. Truist Financial decreased their target price on shares of SilverBow Resources from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 5th. Roth Mkm assumed coverage on SilverBow Resources in a report on Monday, February 12th. They issued a “buy” rating and a $41.00 target price for the company. TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a report on Wednesday, February 28th. Mizuho upped their price objective on shares of SilverBow Resources from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday. Finally, KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

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.