SilverBow Resources (NYSE:SBOW) Trading 7.4% Higher

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

Analyst Upgrades and Downgrades

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

SilverBow Resources Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $856.10 million, a PE ratio of 4.43 and a beta of 2.52. The business’s 50-day moving average is $32.19 and its 200 day moving average is $30.57.

SilverBow Resources (NYSE:SBOW) last issued its earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.25. The company 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 16.48% and a net margin of 24.41%. During the same period in the prior year, the business posted $0.95 EPS. On average, equities research analysts predict that SilverBow Resources, Inc. will post 8.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SilverBow Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Thomist Capital Management LP purchased a new position in shares of SilverBow Resources during the 1st quarter worth approximately $18,129,000. Kore Advisors LP bought a new position in shares of SilverBow Resources in the 4th quarter worth about $9,366,000. Goldman Sachs Group Inc. boosted its stake in SilverBow Resources by 108.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 582,373 shares of the company’s stock worth $16,935,000 after acquiring an additional 302,413 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of SilverBow Resources during the third quarter valued at approximately $7,659,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of SilverBow Resources by 120.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 280,240 shares of the company’s stock worth $8,149,000 after buying an additional 152,987 shares during the last quarter. 91.83% of the stock is owned by institutional investors.

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.