SilverBow Resources (NYSE:SBOW) Announces Quarterly Earnings Results

SilverBow Resources (NYSE:SBOW) posted its quarterly earnings data on Wednesday. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.25, Zacks reports. SilverBow Resources had a net margin of 24.41% and a return on equity of 17.04%. The company had revenue of $256.68 million for the quarter, compared to analyst estimates of $272.27 million. During the same quarter last year, the firm posted $0.95 earnings per share.

SilverBow Resources Price Performance

Shares of SBOW stock traded up $0.41 during mid-day trading on Friday, hitting $31.00. 237,389 shares of the stock traded hands, compared to its average volume of 392,797. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day simple moving average is $32.19 and its 200-day simple moving average is $30.65. SilverBow Resources has a twelve month low of $21.08 and a twelve month high of $43.95. The firm has a market cap of $791.24 million, a price-to-earnings ratio of 4.19 and a beta of 2.52.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SBOW shares. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Truist Financial cut their price target on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 11th. Mizuho upped their target price on SilverBow Resources from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Roth Mkm initiated coverage on SilverBow Resources in a research note on Monday, February 12th. They set a “buy” rating and a $41.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, SilverBow Resources currently has a consensus rating of “Moderate Buy” and an average price target of $44.67.

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.