SilverBow Resources (NYSE:SBOW) Price Target Increased to $47.00 by Analysts at Truist Financial

SilverBow Resources (NYSE:SBOW) had its target price hoisted by Truist Financial from $45.00 to $47.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. KeyCorp lowered SilverBow Resources from an overweight rating to a sector weight rating in a report on Thursday, January 11th. Roth Mkm started coverage on SilverBow Resources in a report on Monday, February 12th. They issued a buy rating and a $41.00 target price on the stock. TheStreet upgraded SilverBow Resources from a c rating to a b- rating in a research note on Wednesday, February 28th. Finally, Mizuho lifted their price objective on shares of SilverBow Resources from $42.00 to $43.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $45.00.

SilverBow Resources Stock Performance

Shares of SBOW opened at $34.32 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.88. SilverBow Resources has a 52-week low of $22.00 and a 52-week high of $43.95. The stock has a 50 day moving average price of $32.42 and a 200 day moving average price of $30.55. The company has a market capitalization of $876.53 million, a price-to-earnings ratio of 4.64 and a beta of 2.52.

SilverBow Resources (NYSE:SBOW) last announced its earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.25. The firm had revenue of $256.68 million during the quarter, compared to analysts’ expectations of $272.27 million. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. During the same period in the prior year, the firm earned $0.95 EPS. Research analysts predict that SilverBow Resources will post 8.21 EPS for the current fiscal year.

Institutional Trading of SilverBow Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in SilverBow Resources by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 170,301 shares of the company’s stock worth $5,814,000 after buying an additional 9,968 shares during the period. Sei Investments Co. acquired a new stake in shares of SilverBow Resources in the 1st quarter worth about $449,000. Swiss National Bank lifted its position in SilverBow Resources by 16.6% in the 1st quarter. Swiss National Bank now owns 35,100 shares of the company’s stock valued at $1,198,000 after purchasing an additional 5,000 shares during the last quarter. Empowered Funds LLC boosted its stake in SilverBow Resources by 8.0% during the 1st quarter. Empowered Funds LLC now owns 82,413 shares of the company’s stock valued at $2,814,000 after purchasing an additional 6,125 shares during the period. Finally, Quantbot Technologies LP bought a new position in SilverBow Resources in the 1st quarter worth about $444,000. 91.83% of the stock is owned by institutional investors.

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.