SilverBow Resources (SBOW) Lifted to “Strong-Buy” at Zacks Investment Research

SilverBow Resources (NYSE:SBOW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage presently has a $35.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 7.99% from the stock’s current price.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Other analysts have also issued reports about the stock. BidaskClub upgraded shares of SilverBow Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Northland Securities assumed coverage on shares of SilverBow Resources in a research report on Thursday, September 28th. They issued an “outperform” rating and a $42.00 price target on the stock. Stephens assumed coverage on shares of SilverBow Resources in a research report on Friday, September 29th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Seaport Global Securities upgraded shares of SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. SilverBow Resources presently has a consensus rating of “Buy” and an average price target of $32.50.

Shares of SilverBow Resources (SBOW) opened at $32.41 on Wednesday. SilverBow Resources has a 1 year low of $19.89 and a 1 year high of $33.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.55 and a current ratio of 0.55.

In other news, insider Sean C. Woolverton bought 1,102 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average price of $23.54 per share, for a total transaction of $25,941.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean C. Woolverton bought 1,119 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were purchased at an average price of $22.86 per share, for a total transaction of $25,580.34. The disclosure for this purchase can be found here. Insiders bought 5,450 shares of company stock worth $127,712 over the last quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pentwater Capital Management LP acquired a new stake in SilverBow Resources during the second quarter worth approximately $15,114,000. Wells Fargo & Company MN boosted its position in SilverBow Resources by 2.3% during the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after acquiring an additional 6,628 shares during the last quarter. Vanguard Group Inc. acquired a new stake in SilverBow Resources during the second quarter worth approximately $4,637,000. State Street Corp acquired a new stake in SilverBow Resources during the second quarter worth approximately $1,834,000. Finally, Northern Trust Corp acquired a new stake in SilverBow Resources during the second quarter worth approximately $1,762,000. Hedge funds and other institutional investors own 30.06% of the company’s stock.

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