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

SilverBow Resources (NYSE:SBOW) had its price objective boosted by Truist Financial from $45.00 to $47.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on SBOW. Mizuho raised 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, May 2nd. TheStreet upgraded SilverBow Resources from a c rating to a b- rating in a report on Wednesday, February 28th. 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 price target for the company. Finally, KeyCorp lowered shares of SilverBow Resources from an overweight rating to a sector weight rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SilverBow Resources presently has a consensus rating of Moderate Buy and an average target price of $45.00.

SilverBow Resources Price Performance

SBOW opened at $34.32 on Tuesday. 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 stock has a market capitalization of $876.53 million, a PE ratio of 4.64 and a beta of 2.52. The stock’s 50 day moving average price is $32.42 and its 200-day moving average price is $30.55. SilverBow Resources has a 52-week low of $22.00 and a 52-week high of $43.95.

SilverBow Resources (NYSE:SBOW) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 earnings per share (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 for the quarter, compared to the consensus estimate of $272.27 million. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities research analysts predict that SilverBow Resources will post 8.21 EPS for the current year.

Institutional Investors Weigh In On SilverBow Resources

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of SilverBow Resources by 12.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 151,156 shares of the company’s stock valued at $5,407,000 after acquiring an additional 17,326 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in SilverBow Resources in the 3rd quarter worth approximately $461,000. Inspire Investing LLC purchased a new stake in SilverBow Resources during the 3rd quarter valued at $307,000. Montgomery Investment Management Inc. bought a new position in shares of SilverBow Resources during the 3rd quarter valued at $512,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of SilverBow Resources in the 3rd quarter worth $2,104,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

SilverBow Resources Company Profile

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.