FY2021 Earnings Forecast for SilverBow Resources, Inc. (NYSE:SBOW) Issued By Truist Securiti

SilverBow Resources, Inc. (NYSE:SBOW) – Truist Securiti lowered their FY2021 earnings per share (EPS) estimates for SilverBow Resources in a research report issued on Monday, October 11th. Truist Securiti analyst N. Dingmann now anticipates that the company will post earnings of $9.90 per share for the year, down from their previous forecast of $10.00. Truist Securiti also issued estimates for SilverBow Resources’ Q4 2021 earnings at $3.06 EPS.

Other analysts have also issued reports about the company. Truist raised their target price on SilverBow Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Saturday, September 11th. Finally, Truist Securities raised their target price on SilverBow Resources from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, October 7th.

Shares of NYSE SBOW opened at $29.00 on Thursday. SilverBow Resources has a 52-week low of $4.09 and a 52-week high of $34.83. The stock has a market cap of $370.04 million, a PE ratio of 33.72 and a beta of 2.65. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.31 and a current ratio of 0.31. The business has a fifty day moving average of $21.34 and a two-hundred day moving average of $18.19.

SilverBow Resources (NYSE:SBOW) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. The company had revenue of $69.86 million during the quarter, compared to analysts’ expectations of $63.00 million. SilverBow Resources had a return on equity of 47.32% and a net margin of 4.25%.

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its position in SilverBow Resources by 105.1% in the second quarter. Morgan Stanley now owns 1,442 shares of the company’s stock worth $34,000 after purchasing an additional 739 shares during the period. Russell Investments Group Ltd. acquired a new stake in SilverBow Resources in the second quarter worth about $51,000. PNC Financial Services Group Inc. acquired a new stake in SilverBow Resources in the second quarter worth about $74,000. UBS Group AG increased its position in SilverBow Resources by 24.8% in the first quarter. UBS Group AG now owns 4,747 shares of the company’s stock worth $37,000 after purchasing an additional 942 shares during the period. Finally, Royal Bank of Canada increased its position in SilverBow Resources by 1,301.5% in the first quarter. Royal Bank of Canada now owns 7,302 shares of the company’s stock worth $57,000 after purchasing an additional 6,781 shares during the period. Hedge funds and other institutional investors own 64.30% of the company’s stock.

About SilverBow Resources

SilverBow Resources, Inc is a growth-oriented independent oil and gas company. It engages in the acquiring and developing assets in the Eagle Ford Shale. The company was founded on October 11, 1979 and is headquartered in Houston, TX.

See Also: Hold Rating

Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

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