Southwestern Energy (NYSE:SWN) Issues Earnings Results, Misses Expectations By $0.02 EPS

Southwestern Energy (NYSE:SWN – Get Rating) released its quarterly earnings results on Thursday. The energy company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02), Briefing.com reports. Southwestern Energy had a negative net margin of 32.56% and a positive return on equity of 203.77%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $0.19 EPS. Southwestern Energy’s revenue was up 294.1% compared to the same quarter last year.

Southwestern Energy Trading Up 5.2 %

Shares of NYSE:SWN traded up $0.34 during midday trading on Friday, reaching $6.83. 31,863,335 shares of the company’s stock were exchanged, compared to its average volume of 35,102,590. The firm’s 50 day simple moving average is $7.22 and its two-hundred day simple moving average is $6.54. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -2.04 and a beta of 1.23. Southwestern Energy has a fifty-two week low of $3.81 and a fifty-two week high of $9.87.

Southwestern Energy announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the energy company to purchase up to 13.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Southwestern Energy

A number of hedge funds and other institutional investors have recently modified their holdings of SWN. Lazard Asset Management LLC increased its position in shares of Southwestern Energy by 2,052.3% during the 1st quarter. Lazard Asset Management LLC now owns 9,470 shares of the energy company’s stock worth $67,000 after purchasing an additional 9,030 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Southwestern Energy in the 1st quarter valued at about $80,000. Bridgefront Capital LLC acquired a new position in Southwestern Energy in the 1st quarter valued at about $83,000. United Capital Financial Advisers LLC acquired a new position in Southwestern Energy in the 1st quarter valued at about $91,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Southwestern Energy in the 1st quarter valued at about $91,000. 85.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on SWN. Susquehanna raised their price objective on Southwestern Energy from $7.00 to $9.00 and gave the company a “positive” rating in a report on Monday, April 25th. Raymond James raised their price objective on Southwestern Energy from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Monday, April 25th. Morgan Stanley decreased their price objective on Southwestern Energy from $8.50 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Mizuho decreased their price objective on Southwestern Energy from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Finally, The Goldman Sachs Group decreased their price objective on Southwestern Energy from $9.50 to $7.50 and set a “neutral” rating on the stock in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.35.

Southwestern Energy Company Profile

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Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.