Kimmeridge Energy Management C Sells 2,100,000 Shares of SilverBow Resources, Inc. (NYSE:SBOW) Stock

SilverBow Resources, Inc. (NYSE:SBOW) major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of SilverBow Resources stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $37.00, for a total transaction of $77,700,000.00. Following the completion of the transaction, the insider now directly owns 1,181,356 shares of the company’s stock, valued at approximately $43,710,172. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

SilverBow Resources Stock Down 0.4 %

SBOW stock opened at $37.63 on Wednesday. The stock has a market capitalization of $961.07 million, a P/E ratio of 5.09 and a beta of 2.52. The firm has a 50-day simple moving average of $35.41 and a 200-day simple moving average of $31.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.88. SilverBow Resources, Inc. has a 52 week low of $25.19 and a 52 week high of $43.95.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.25. SilverBow Resources had a net margin of 24.41% and a return on equity of 16.48%. The company had revenue of $256.68 million during the quarter, compared to analysts’ expectations of $272.27 million. During the same quarter in the prior year, the company earned $0.95 EPS. Equities analysts forecast that SilverBow Resources, Inc. will post 8.64 earnings per share for the current fiscal year.

Institutional Trading of SilverBow Resources

Several large investors have recently bought and sold shares of SBOW. DekaBank Deutsche Girozentrale acquired a new position in SilverBow Resources in the 3rd quarter valued at about $50,000. Allspring Global Investments Holdings LLC boosted its holdings in SilverBow Resources by 138.4% in the 4th 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 last quarter. Harbor Capital Advisors Inc. boosted its holdings in SilverBow Resources by 33.9% in the 4th 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 last quarter. ORG Partners LLC boosted its holdings in SilverBow Resources by 8,624.0% in the 4th quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock valued at $127,000 after purchasing an additional 4,312 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of SilverBow Resources in the 1st quarter worth approximately $214,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBOW. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Truist Financial lifted their price objective on shares of SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.33.

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.