Southwestern Energy Rating Reiterated by Zacks (SWN)
Southwestern Energy (NYSE:SWN)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday, Stock Ratings Network reports. They currently have a $40.00 price target on the stock. Zacks‘ target price points to a potential upside of 4.44% from the company’s current price.
Zacks‘ analyst wrote, “We are reiterating our Neutral recommendation on Southwestern Energy following its stable second quarter 2013 results. The performance was backed by higher production, primarily at its Fayetteville shale operations, as well as lower operating expense. Going forward Southwestern Energy enjoys strong acreage positions in the Fayetteville and Marcellus shales, which offer ample opportunities for newer natural gas discoveries. The company’s effort to build its New Ventures acreage outside of New Brunswick is an added positive. Brown Dense is expected to be a key play in its portfolio. However, we prefer to stay on the sidelines, considering the weak natural gas scenario in the U.S. Other risk factors such as technological failures and lack of a diversified asset base also add to our negative sentiment. “
A number of other firms have also recently commented on SWN. Analysts at Canaccord Genuity initiated coverage on shares of Southwestern Energy (NYSE:SWN) in a research note to investors on Tuesday, August 20th. They set a “buy” rating and a $50.00 price target on the stock. Separately, analysts at BMO Capital Markets downgraded shares of Southwestern Energy (NYSE:SWN) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, August 19th. They now have a $40.00 price target on the stock, down previously from $42.00. Finally, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Southwestern Energy (NYSE:SWN) in a research note to investors on Wednesday, August 7th. They now have a $35.00 price target on the stock.
Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.24.
Southwestern Energy (NYSE:SWN) traded down 0.47% during mid-day trading on Friday, hitting $38.12. The stock had a trading volume of 1,452,952 shares. Southwestern Energy has a 52 week low of $31.62 and a 52 week high of $40.34. The stock’s 50-day moving average is $38.04 and its 200-day moving average is $37.46. The company’s market cap is $13.359 billion.
Southwestern Energy (NYSE:SWN) last released its earnings data 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 in the previous year, the company posted $0.26 earnings per share. On average, analysts predict that Southwestern Energy will post $2.04 earnings per share for the current fiscal year.
In other Southwestern Energy news, Director Catherine A. Kehr bought 10,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $37.86 per share, for a total transaction of $397,530.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.