SilverBow Resources (NYSE:SBOW) Trading 7.4% Higher

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

Analysts Set New Price Targets

Several equities analysts have commented on SBOW shares. Mizuho raised their price objective on SilverBow Resources from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Roth Mkm initiated coverage on SilverBow Resources in a research report on Monday, February 12th. They issued a “buy” rating and a $41.00 price target for the company. TheStreet raised SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 11th. Finally, Truist Financial lifted their price target on SilverBow Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.00.

SilverBow Resources Price Performance

The firm has a fifty day moving average of $32.42 and a 200 day moving average of $30.55. The company has a market capitalization of $873.21 million, a P/E ratio of 4.62 and a beta of 2.52. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.84 by $0.25. The company had revenue of $256.68 million for the quarter, compared to the consensus estimate of $272.27 million. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. During the same quarter in the prior year, the company posted $0.95 EPS. On average, equities research analysts anticipate that SilverBow Resources, Inc. will post 8.21 EPS for the current year.

Institutional Investors Weigh In On SilverBow Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of SilverBow Resources in the third quarter valued at about $50,000. Allspring Global Investments Holdings LLC grew its holdings in SilverBow Resources by 138.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,126 shares of the company’s stock valued at $91,000 after purchasing an additional 1,815 shares during the period. Harbor Capital Advisors Inc. grew its holdings in SilverBow Resources by 33.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,303 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares during the period. ORG Partners LLC lifted its position in shares of SilverBow Resources by 8,624.0% in the fourth quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock valued at $127,000 after acquiring an additional 4,312 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in SilverBow Resources during the third quarter worth approximately $255,000. 91.83% of the stock is currently owned by hedge funds and other 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.