Zacks Investment Research Downgrades SilverBow Resources Inc. (SBOW) to Sell
SilverBow Resources Inc. (NYSE:SBOW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Other research analysts also recently issued research reports about the company. Stephens started coverage on SilverBow Resources in a report on Friday, September 29th. They set an “overweight” rating and a $28.00 price objective on the stock. BidaskClub upgraded SilverBow Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Northland Securities initiated coverage on SilverBow Resources in a research note on Thursday, September 28th. They issued an “outperform” rating and a $42.00 target price for the company. Seaport Global Securities began coverage on SilverBow Resources in a research note on Tuesday, August 1st. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Johnson Rice began coverage on SilverBow Resources in a research report on Thursday, June 8th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. SilverBow Resources presently has a consensus rating of “Hold” and a consensus price target of $31.67.
SilverBow Resources (NYSE SBOW) traded down 0.8201% during mid-day trading on Wednesday, hitting $24.6462. 930 shares of the company were exchanged. The company has a 50 day moving average of $22.47 and a 200 day moving average of $25.34. The stock has a market cap of $284.07 million and a P/E ratio of 0.6100. SilverBow Resources has a 12-month low of $19.89 and a 12-month high of $35.70.
In other SilverBow Resources news, CEO Sean C. Woolverton purchased 1,106 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $22.72 per share, with a total value of $25,128.32. Following the completion of the purchase, the chief executive officer now directly owns 63,804 shares in the company, valued at approximately $1,449,626.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean C. Woolverton purchased 1,043 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $24.29 per share, with a total value of $25,334.47. Following the completion of the purchase, the chief executive officer now owns 64,847 shares of the company’s stock, valued at $1,575,133.63. The disclosure for this purchase can be found here. Insiders bought a total of 5,315 shares of company stock worth $127,120 in the last ninety days.
A number of hedge funds have recently made changes to their positions in SBOW. Pentwater Capital Management LP bought a new position in SilverBow Resources in the second quarter valued at approximately $15,114,000. Matlinpatterson Global Advisers LLC acquired a new stake in SilverBow Resources during the 2nd quarter worth $9,405,000. Wells Fargo & Company MN acquired a new stake in SilverBow Resources during the 2nd quarter worth $7,476,000. Vanguard Group Inc. acquired a new stake in SilverBow Resources during the 2nd quarter worth $4,637,000. Finally, State Street Corp bought a new stake in shares of SilverBow Resources during the 2nd quarter valued at $1,834,000. 31.00% of the stock is currently owned by hedge funds and other institutional investors.
SilverBow Resources Company Profile
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