Southwestern Energy Co. (SWN) Bonds Rise 1.9% During Trading
An issue of Southwestern Energy Co. (NYSE:SWN) debt rose 1.9% against its face value during trading on Tuesday. The high-yield debt issue has a 5.8% coupon and is set to mature on January 23, 2020. The bonds in the issue are now trading at $104.00 and were trading at $101.06 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Several research firms recently issued reports on SWN. BMO Capital Markets reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Southwestern Energy in a research report on Friday, July 29th. Jefferies Group reissued a “sell” rating on shares of Southwestern Energy in a report on Monday, August 1st. Howard Weil increased their price target on Southwestern Energy from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, July 25th. Barclays PLC increased their price target on Southwestern Energy from $8.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, July 25th. Finally, National Securities raised Southwestern Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $17.00 in a report on Monday, July 25th. Five research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.66.
Shares of Southwestern Energy Co. (NYSE:SWN) opened at 12.64 on Wednesday. Southwestern Energy Co. has a 1-year low of $5.00 and a 1-year high of $15.59. The firm’s 50-day moving average is $13.87 and its 200-day moving average is $13.03. The stock’s market capitalization is $4.90 billion.
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Southwestern Energy (NYSE:SWN) last issued its quarterly earnings data on Friday, July 22nd. The energy company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The company earned $522 million during the quarter, compared to analysts’ expectations of $517.49 million. Southwestern Energy had a negative return on equity of 1.99% and a negative net margin of 220.65%. On average, analysts predict that Southwestern Energy Co. will post $0.04 earnings per share for the current fiscal year.
In other Southwestern Energy news, Director Gregory D. Kerley sold 12,000 shares of Southwestern Energy stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $14.34, for a total transaction of $172,080.00. Following the completion of the transaction, the director now directly owns 312,064 shares of the company’s stock, valued at $4,474,997.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.16% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors raised its stake in shares of Southwestern Energy by 25.7% in the second quarter. Capital Research Global Investors now owns 55,881,426 shares of the energy company’s stock worth $702,988,000 after buying an additional 11,428,991 shares during the period. Vanguard Group Inc. raised its stake in shares of Southwestern Energy by 23.2% in the second quarter. Vanguard Group Inc. now owns 43,459,895 shares of the energy company’s stock worth $546,724,000 after buying an additional 8,190,765 shares during the period. State Street Corp raised its stake in shares of Southwestern Energy by 3.8% in the second quarter. State Street Corp now owns 23,670,239 shares of the energy company’s stock worth $297,763,000 after buying an additional 870,008 shares during the period. Capital World Investors raised its stake in shares of Southwestern Energy by 1.1% in the second quarter. Capital World Investors now owns 13,522,269 shares of the energy company’s stock worth $170,110,000 after buying an additional 141,587 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Southwestern Energy by 12.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,754,835 shares of the energy company’s stock worth $147,876,000 after buying an additional 1,261,839 shares during the period. 98.77% of the stock is owned by institutional investors.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production. The Company operates through two segments: Exploration and Production (E&P) and Midstream Services. Its operations are focused on the development of unconventional natural gas reservoirs located in Pennsylvania, West Virginia and Arkansas.
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