Bank of America Corp DE cut its holdings in shares of SilverBow Resources Inc (NYSE:SBOW) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,993 shares of the company’s stock after selling 12,165 shares during the quarter. Bank of America Corp DE owned approximately 0.61% of SilverBow Resources worth $2,050,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Rhumbline Advisers bought a new stake in SilverBow Resources during the second quarter valued at about $211,000. Mackay Shields LLC bought a new stake in SilverBow Resources during the second quarter valued at about $219,000. Renaissance Technologies LLC bought a new stake in SilverBow Resources during the second quarter valued at about $329,000. Globeflex Capital L P raised its holdings in SilverBow Resources by 12.0% during the second quarter. Globeflex Capital L P now owns 15,790 shares of the company’s stock valued at $456,000 after acquiring an additional 1,686 shares during the period. Finally, Prescott Group Capital Management L.L.C. bought a new stake in SilverBow Resources during the second quarter valued at about $546,000. 81.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of SBOW stock opened at $28.76 on Friday. SilverBow Resources Inc has a 12-month low of $22.05 and a 12-month high of $34.76. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $306.50 million, a PE ratio of 4.73 and a beta of 0.58.
SilverBow Resources (NYSE:SBOW) last issued its earnings results on Tuesday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.64). SilverBow Resources had a return on equity of 20.36% and a net margin of 18.88%. The firm had revenue of $65.03 million during the quarter, compared to the consensus estimate of $61.10 million. As a group, analysts predict that SilverBow Resources Inc will post 5.2 EPS for the current year.
A number of research firms have commented on SBOW. Zacks Investment Research cut SilverBow Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th. ValuEngine cut SilverBow Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Finally, SunTrust Banks cut SilverBow Resources from a “buy” rating to a “hold” rating and reduced their target price for the stock from $37.00 to $30.00 in a report on Monday, September 24th.
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About SilverBow Resources
SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
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