Foundry Partners LLC Acquires 19,385 Shares of SilverBow Resources, Inc. (NYSE:SBOW)

Foundry Partners LLC raised its stake in SilverBow Resources, Inc. (NYSE:SBOW) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,610 shares of the company’s stock after buying an additional 19,385 shares during the quarter. Foundry Partners LLC’s holdings in SilverBow Resources were worth $3,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in shares of SilverBow Resources during the third quarter worth about $1,395,000. Quadrature Capital Ltd acquired a new stake in SilverBow Resources in the third quarter valued at $1,429,000. Wellington Management Group LLP bought a new position in shares of SilverBow Resources in the 3rd quarter valued at about $7,659,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of SilverBow Resources during the 3rd quarter worth about $4,769,000. Finally, Swiss National Bank raised its holdings in shares of SilverBow Resources by 12.5% in the 3rd quarter. Swiss National Bank now owns 33,200 shares of the company’s stock valued at $1,188,000 after purchasing an additional 3,700 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.

SilverBow Resources Stock Performance

Shares of NYSE SBOW opened at $30.16 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $769.68 million, a price-to-earnings ratio of 2.48 and a beta of 2.46. The stock’s fifty day moving average price is $31.55 and its two-hundred day moving average price is $30.78. SilverBow Resources, Inc. has a one year low of $21.08 and a one year high of $43.95.

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

Analyst Ratings Changes

SBOW has been the subject of a number of research analyst reports. KeyCorp cut SilverBow Resources from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 11th. TheStreet raised SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Roth Mkm assumed coverage on SilverBow Resources in a report on Monday, February 12th. They set a “buy” rating and a $41.00 target price on the stock. Truist Financial reduced their price objective on shares of SilverBow Resources from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Mizuho reissued a “buy” rating and issued a $42.00 price objective on shares of SilverBow Resources in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

SilverBow Resources Company Profile

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.