SilverBow Resources (NYSE:SBOW) Shares Down 4.9%

Shares of SilverBow Resources, Inc. (NYSE:SBOW) dropped 4.9% on Tuesday . The company traded as low as $30.38 and last traded at $30.76. Approximately 225,112 shares traded hands during trading, a decline of 41% from the average daily volume of 384,553 shares. The stock had previously closed at $32.35.

Analysts Set New Price Targets

SBOW has been the topic of a number of recent analyst reports. KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 11th. Roth Mkm initiated coverage on SilverBow Resources in a report on Monday, February 12th. They issued a “buy” rating and a $41.00 price objective on the stock. Citigroup initiated coverage on SilverBow Resources in a report on Wednesday, December 20th. They issued a “neutral” rating and a $34.00 price objective on the stock. TheStreet raised SilverBow Resources from a “c” rating to a “b-” rating in a report on Wednesday, February 28th. Finally, Mizuho reaffirmed a “buy” rating and issued a $42.00 price objective on shares of SilverBow Resources in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

SilverBow Resources Trading Down 5.7 %

The business has a 50-day moving average price of $31.37 and a two-hundred day moving average price of $30.83. The stock has a market capitalization of $765.86 million, a P/E ratio of 2.46 and a beta of 2.46. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.99.

SilverBow Resources (NYSE:SBOW) last released its earnings results on Wednesday, February 28th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.89). The company had revenue of $212.04 million for the quarter, compared to the consensus estimate of $231.43 million. SilverBow Resources had a net margin of 45.64% and a return on equity of 14.50%. On average, analysts expect that SilverBow Resources, Inc. will post 8.37 EPS for the current fiscal year.

Institutional Trading of SilverBow Resources

A number of institutional investors have recently modified their holdings of SBOW. JPMorgan Chase & Co. lifted its position in shares of SilverBow Resources by 518.7% during the 1st quarter. JPMorgan Chase & Co. now owns 7,059 shares of the company’s stock valued at $226,000 after acquiring an additional 5,918 shares during the period. Bank of New York Mellon Corp lifted its position in shares of SilverBow Resources by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 102,019 shares of the company’s stock worth $3,264,000 after buying an additional 3,085 shares during the last quarter. American Century Companies Inc. lifted its position in shares of SilverBow Resources by 26.9% during the 1st quarter. American Century Companies Inc. now owns 61,086 shares of the company’s stock worth $1,955,000 after buying an additional 12,960 shares during the last quarter. Citigroup Inc. lifted its position in shares of SilverBow Resources by 136.9% during the 1st quarter. Citigroup Inc. now owns 32,132 shares of the company’s stock worth $1,028,000 after buying an additional 18,570 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of SilverBow Resources by 0.4% during the 1st quarter. BlackRock Inc. now owns 110,784 shares of the company’s stock worth $3,545,000 after buying an additional 496 shares during the last quarter. 91.83% of the stock is currently owned by 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.