SilverBow Resources (NYSE:SBOW) Stock Rating Upgraded by Zacks Investment Research

SilverBow Resources (NYSE:SBOW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm currently has a $12.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential downside of 6.69% from the stock’s previous close.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Several other research analysts also recently commented on SBOW. ValuEngine downgraded shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. TheStreet upgraded shares of SilverBow Resources from a “d” rating to a “c-” rating in a report on Thursday, September 12th. Finally, Northland Securities reiterated a “buy” rating and set a $14.00 price target on shares of SilverBow Resources in a report on Sunday, September 1st.

Shares of NYSE SBOW traded up $0.92 during midday trading on Friday, reaching $12.86. The company’s stock had a trading volume of 56,665 shares, compared to its average volume of 29,967. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.75 and a current ratio of 0.75. SilverBow Resources has a fifty-two week low of $7.10 and a fifty-two week high of $29.51. The business’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $11.91. The company has a market cap of $125.58 million, a P/E ratio of 2.03 and a beta of 0.52.

SilverBow Resources (NYSE:SBOW) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $4.21. SilverBow Resources had a net margin of 48.20% and a return on equity of 50.63%. The company had revenue of $74.70 million during the quarter, compared to the consensus estimate of $70.30 million. Sell-side analysts forecast that SilverBow Resources will post 8.18 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of SilverBow Resources by 12.8% during the second quarter. BlackRock Inc. now owns 454,939 shares of the company’s stock valued at $6,301,000 after purchasing an additional 51,466 shares during the period. Northern Trust Corp grew its position in shares of SilverBow Resources by 1.7% during the 2nd quarter. Northern Trust Corp now owns 86,184 shares of the company’s stock valued at $1,194,000 after acquiring an additional 1,473 shares during the period. Acadian Asset Management LLC grew its position in shares of SilverBow Resources by 19.7% during the 2nd quarter. Acadian Asset Management LLC now owns 45,431 shares of the company’s stock valued at $628,000 after acquiring an additional 7,467 shares during the period. Strs Ohio grew its position in shares of SilverBow Resources by 16.9% during the 3rd quarter. Strs Ohio now owns 35,900 shares of the company’s stock valued at $347,000 after acquiring an additional 5,200 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of SilverBow Resources by 57.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,113 shares of the company’s stock valued at $431,000 after acquiring an additional 11,397 shares during the period. 82.24% of the stock is currently owned by institutional investors.

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, 2018, it had proved reserves of 1,345 MMcfe. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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