SilverBow Resources (NYSE:SBOW) coverage initiated by KeyCorp analysts

KeyCorp research analysts have started covering the shares of SilverBow Resources (NYSE: SBOW – Get Assessed) in a research note released Monday to investors, reports The Fly. The company has set an “overweight” rating on the stock.

Other analysts have also released reports on the company. Truist Financial raised its price target on SilverBow Resources from $56.00 to $62.00 and gave the company a “buy” rating in a Tuesday, July 19 report. TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a Tuesday, September 6 report.

SilverBow Resources shares fall 3.3%

Shares of SBOW traded down $1.09 in midday trading on Monday, hitting $31.78. 1,054,923 shares were traded, against an average volume of 349,431. The company has a quick ratio of 0.50, a current ratio of 0.50 and a leverage ratio of 1.35. The company has a market capitalization of $576.81 million, a price-earnings ratio of 5.91 and a beta of 2.25. The company has a 50-day simple moving average of $39.13 and a 200-day simple moving average of $36.10. SilverBow Resources has a 12-month low of $18.98 and a 12-month high of $49.91.

SilverBow Resources (NYSE:SBOW – Get Rating) last reported quarterly earnings data on Wednesday, August 3. The company reported EPS of $3.01 for the quarter, beating analyst consensus estimates of $1.82 from $1.19. The company had revenue of $182.61 million in the quarter, versus a consensus estimate of $110.00 million. SilverBow Resources had a return on equity of 71.35% and a net margin of 18.28%. Research analysts expect SilverBow Resources to post EPS of 16.72 for the current year.

Insider buying and selling

In other SilverBow Resources news, Director Charles W. Wampler sold 5,000 shares of the company in a trade on Tuesday, August 23. The stock was sold at an average price of $47.05, for a total transaction of $235,250.00. Following the completion of the sale, the administrator now directly owns 31,869 shares of the company, valued at $1,499,436.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other SilverBow Resources news, Director Charles W. Wampler sold 5,000 shares of the company in a trade on Tuesday, August 23. The stock was sold at an average price of $47.05, for a total transaction of $235,250.00. Following the completion of the sale, the administrator now directly owns 31,869 shares of the company, valued at $1,499,436.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Director Strategic Value Partners, Llc sold 81,448 shares in a trade on Monday August 29th. The shares were sold at an average price of $44.47, for a total value of $3,621,992.56. Following completion of the transaction, the administrator now owns 4,112,540 shares of the company, valued at $182,884,653.80. The disclosure of this sale can be found here. Insiders sold 95,352 shares of the company valued at $4,267,717 in the past 90 days. 4.20% of the shares are held by insiders.

Institutional entries and exits

Major investors have recently changed their stake in the company. Apollo Management Holdings LP bought a new position in SilverBow Resources during Q2 for a value of $34,656,000. Assenagon Asset Management SA increased its position in SilverBow Resources by 653.4% ​​during the first quarter. Assenagon Asset Management SA now owns 376,796 shares of the company worth $12,057,000 after purchasing an additional 326,786 shares in the last quarter. Goldman Sachs Group Inc. increased its position in SilverBow Resources by 1,481.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,747 shares of the company worth $9,432,000 after purchasing an additional 276,115 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in SilverBow Resources by 2,951.3% during the second quarter. JPMorgan Chase & Co. now owns 215,388 shares of the company worth $6,108,000 after acquiring an additional 208,329 shares during the period. Finally, State Street Corp increased its stake in SilverBow Resources by 474.7% during the 2nd quarter. State Street Corp now owns 232,254 shares of the company worth $6,587,000 after acquiring an additional 191,842 shares during the period.

SilverBow Resources Company Profile

(Get a rating)

SilverBow Resources, Inc, an oil and gas company, is acquiring and developing assets in the Eagle Ford Shale and Austin Chalk located in South Texas. As of December 31, 2021, it had proven reserves of 1.416 billion cubic feet of natural gas equivalent. The company was previously known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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