SilverBow Resources Inc. (SBOW) Shares Sold by Matlinpatterson Global Advisers LLC

Matlinpatterson Global Advisers LLC cut its position in SilverBow Resources Inc. (NYSE:SBOW) by 30.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 248,625 shares of the company’s stock after selling 110,875 shares during the quarter. SilverBow Resources makes up approximately 0.6% of Matlinpatterson Global Advisers LLC’s investment portfolio, making the stock its 2nd largest holding. Matlinpatterson Global Advisers LLC owned about 2.16% of SilverBow Resources worth $6,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SBOW. Nationwide Fund Advisors acquired a new position in shares of SilverBow Resources during the second quarter valued at about $104,000. SG Americas Securities LLC acquired a new position in shares of SilverBow Resources during the second quarter valued at about $148,000. The Manufacturers Life Insurance Company acquired a new position in shares of SilverBow Resources during the second quarter valued at about $157,000. New York State Common Retirement Fund acquired a new position in shares of SilverBow Resources during the second quarter valued at about $196,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of SilverBow Resources during the second quarter valued at about $229,000. Institutional investors and hedge funds own 31.01% of the company’s stock.

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Several equities analysts have recently issued reports on SBOW shares. BidaskClub upgraded shares of SilverBow Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Seaport Global Securities started coverage on shares of SilverBow Resources in a report on Tuesday, August 1st. They set a “neutral” rating and a $25.00 price objective on the stock. Northland Securities started coverage on shares of SilverBow Resources in a report on Thursday, September 28th. They set an “outperform” rating and a $42.00 price objective on the stock. Stephens started coverage on shares of SilverBow Resources in a report on Friday, September 29th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of SilverBow Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.67.

Shares of SilverBow Resources Inc. (NYSE:SBOW) traded down 0.27% during trading on Wednesday, reaching $22.43. 15,565 shares of the company traded hands. SilverBow Resources Inc. has a 1-year low of $19.89 and a 1-year high of $35.70. The stock’s 50 day moving average is $23.03 and its 200 day moving average is $24.82. The company has a market capitalization of $258.53 million and a price-to-earnings ratio of 0.56.

In other news, CEO Sean C. Woolverton purchased 1,043 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average price of $24.29 per share, with a total value of $25,334.47. Following the completion of the transaction, the chief executive officer now directly owns 64,847 shares in the company, valued at approximately $1,575,133.63. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean C. Woolverton purchased 1,119 shares of the business’s stock in a transaction on Monday, October 16th. The shares were purchased at an average cost of $22.86 per share, for a total transaction of $25,580.34. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,775 shares of company stock valued at $110,406.

SilverBow Resources Profile

Institutional Ownership by Quarter for SilverBow Resources (NYSE:SBOW)

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