SilverBow Resources (NYSE:SBOW) Shares Gap Down to $38.95

Shares of SilverBow Resources, Inc. (NYSE:SBOWGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $38.95, but opened at $37.70. SilverBow Resources shares last traded at $36.37, with a volume of 585 shares trading hands.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TheStreet upgraded shares of SilverBow Resources from a “c” rating to a “b-” rating in a research note on Tuesday. Truist Financial lifted their price target on shares of SilverBow Resources from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th.

SilverBow Resources Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $665.74 million, a price-to-earnings ratio of 6.82 and a beta of 2.25. The firm has a fifty day moving average price of $38.01 and a 200-day moving average price of $35.50.

SilverBow Resources (NYSE:SBOWGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $1.82 by $1.19. The business had revenue of $182.61 million during the quarter, compared to analysts’ expectations of $110.00 million. SilverBow Resources had a net margin of 18.28% and a return on equity of 71.35%. As a group, equities analysts anticipate that SilverBow Resources, Inc. will post 16.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Strategic Value Partners, Llc sold 8,904 shares of SilverBow Resources stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $46.10, for a total value of $410,474.40. Following the transaction, the director now owns 4,215,003 shares in the company, valued at approximately $194,311,638.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Charles W. Wampler sold 5,000 shares of SilverBow Resources stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $47.05, for a total transaction of $235,250.00. Following the sale, the director now directly owns 31,869 shares of the company’s stock, valued at approximately $1,499,436.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Strategic Value Partners, Llc sold 8,904 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $46.10, for a total transaction of $410,474.40. Following the completion of the transaction, the director now directly owns 4,215,003 shares of the company’s stock, valued at approximately $194,311,638.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,352 shares of company stock worth $4,267,717. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of SilverBow Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new position in shares of SilverBow Resources in the first quarter valued at approximately $50,000. Point72 Hong Kong Ltd bought a new stake in SilverBow Resources during the 2nd quarter worth approximately $61,000. Schroder Investment Management Group acquired a new position in SilverBow Resources in the 4th quarter valued at approximately $91,000. SG Americas Securities LLC acquired a new position in SilverBow Resources in the 2nd quarter valued at approximately $105,000. Finally, Quantbot Technologies LP raised its stake in shares of SilverBow Resources by 2,243.1% during the second quarter. Quantbot Technologies LP now owns 3,749 shares of the company’s stock valued at $106,000 after acquiring an additional 3,589 shares during the last quarter.

SilverBow Resources Company Profile

(Get Rating)

SilverBow Resources, Inc, an oil and gas company, acquires and develops assets in the Eagle Ford shale and Austin Chalk located in South Texas. As of December 31, 2021, it had proved reserves of 1,416 billion cubic feet of natural gas 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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