Southwestern Energy Coverage Initiated by Analysts at Canaccord Genuity (SWN)
Equities research analysts at Canaccord Genuity started coverage on shares of Southwestern Energy (NYSE:SWN) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. Canaccord Genuity’s price target would suggest a potential upside of 36.46% from the company’s current price.
The analysts wrote, “We believe SWN is capable of impressive rates of production growth in the Marcellus shale while further reducing its extremely low-cost structure in its core Fayetteville shale acreage. We are also bullish on SWN because of our broad belief that US natural gas supply and demand are coming ever more into balance. This should lead to an improvement in US natural gas prices over the 2014-2016 time horizon.”
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets downgraded shares of Southwestern Energy from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, down previously from $42.00. Separately, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Southwestern Energy in a research note to investors on Wednesday, August 7th. They now have a $35.00 price target on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Southwestern Energy from $33.00 to $44.00 in a research note to investors on Monday, August 5th.
Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Southwestern Energy has an average rating of “Hold” and an average price target of $41.19.
Shares of Southwestern Energy (NYSE:SWN) traded up 1.53% on Tuesday, hitting $37.20. The stock had a trading volume of 661,074 shares. Southwestern Energy has a 52-week low of $30.29 and a 52-week high of $40.34. The stock’s 50-day moving average is $38.17 and its 200-day moving average is $37.56. The company’s market cap is $13.037 billion.
Southwestern Energy (NYSE:SWN) last announced its earnings results on Thursday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $862.04 million for the quarter, compared to the consensus estimate of $780.71 million. During the same quarter last year, the company posted $0.26 earnings per share. Analysts expect that Southwestern Energy will post $2.02 EPS for the current fiscal year.
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production.
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