SilverBow Resources (NYSE:SBOW) COO Steven W. Adam purchased 619 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $28.79 per share, for a total transaction of $17,821.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
SBOW stock traded up $0.50 during trading hours on Wednesday, reaching $28.78. 364 shares of the company were exchanged, compared to its average volume of 39,393. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. SilverBow Resources has a 1-year low of $19.89 and a 1-year high of $33.21. The company has a market capitalization of $328.40 and a price-to-earnings ratio of 4.51.
A number of hedge funds have recently added to or reduced their stakes in the business. Strategic Value Partners LLC bought a new position in SilverBow Resources in the 4th quarter valued at about $133,040,000. Pentwater Capital Management LP increased its holdings in SilverBow Resources by 48.7% in the 4th quarter. Pentwater Capital Management LP now owns 805,223 shares of the company’s stock valued at $23,931,000 after buying an additional 263,555 shares during the period. Wells Fargo & Company MN increased its holdings in SilverBow Resources by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock valued at $7,178,000 after buying an additional 6,628 shares during the period. Vanguard Group Inc. bought a new position in SilverBow Resources in the 2nd quarter valued at about $4,637,000. Finally, Bank of New York Mellon Corp increased its holdings in SilverBow Resources by 269.1% in the 4th quarter. Bank of New York Mellon Corp now owns 84,634 shares of the company’s stock valued at $2,516,000 after buying an additional 61,706 shares during the period. 67.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on SBOW. Zacks Investment Research lowered shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Seaport Global Securities raised shares of SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.50.
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About SilverBow Resources
SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
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