Strategic Value Partners LLC bought a new stake in SilverBow Resources, Inc. (NYSE:SBOW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,476,462 shares of the company’s stock, valued at approximately $133,040,000. SilverBow Resources makes up approximately 15.9% of Strategic Value Partners LLC’s holdings, making the stock its 3rd biggest holding. Strategic Value Partners LLC owned approximately 38.76% of SilverBow Resources at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Two Sigma Investments LP acquired a new stake in SilverBow Resources in the fourth quarter worth about $998,000. Two Sigma Advisers LP acquired a new stake in SilverBow Resources in the fourth quarter worth about $238,000. Deutsche Bank AG increased its position in SilverBow Resources by 412.8% in the fourth quarter. Deutsche Bank AG now owns 33,739 shares of the company’s stock worth $1,002,000 after purchasing an additional 27,159 shares during the period. Renaissance Technologies LLC acquired a new stake in SilverBow Resources in the fourth quarter worth about $886,000. Finally, Spark Investment Management LLC increased its position in SilverBow Resources by 100.9% in the fourth quarter. Spark Investment Management LLC now owns 42,800 shares of the company’s stock worth $1,272,000 after purchasing an additional 21,500 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.
Shares of SilverBow Resources, Inc. (NYSE SBOW) opened at $29.40 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $339.53 and a PE ratio of 4.69. SilverBow Resources, Inc. has a 12-month low of $19.89 and a 12-month high of $33.21.
A number of brokerages recently commented on SBOW. Zacks Investment Research upgraded SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 10th. Seaport Global Securities upgraded SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $32.50.
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SilverBow Resources Profile
SilverBow Resources is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. With almost 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which they leverage to assemble drilling inventory.
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