Assenagon Asset Management S.A. Takes Position in SilverBow Resources, Inc. (NYSE:SBOW)

Assenagon Asset Management S.A. purchased a new stake in shares of SilverBow Resources, Inc. (NYSE:SBOWFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 127,253 shares of the company’s stock, valued at approximately $4,552,000. Assenagon Asset Management S.A. owned about 0.56% of SilverBow Resources as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in SilverBow Resources by 333.6% during the third quarter. State Street Corp now owns 1,007,014 shares of the company’s stock valued at $27,069,000 after purchasing an additional 774,760 shares in the last quarter. Riposte Capital LLC grew its holdings in SilverBow Resources by 70.7% during the 2nd quarter. Riposte Capital LLC now owns 1,700,000 shares of the company’s stock worth $49,504,000 after acquiring an additional 704,113 shares in the last quarter. BlackRock Inc. grew its holdings in SilverBow Resources by 35.8% during the 2nd quarter. BlackRock Inc. now owns 1,227,039 shares of the company’s stock worth $35,731,000 after acquiring an additional 323,413 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in SilverBow Resources by 1,481.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,747 shares of the company’s stock worth $9,432,000 after acquiring an additional 276,115 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of SilverBow Resources by 2,951.3% during the second quarter. JPMorgan Chase & Co. now owns 215,388 shares of the company’s stock valued at $6,108,000 after buying an additional 208,329 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBOW. Truist Financial decreased their price objective on shares of SilverBow Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, December 4th. Pickering Energy Partners assumed coverage on shares of SilverBow Resources in a research note on Thursday, October 12th. They issued a “neutral” rating on the stock. KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 11th. TheStreet lowered SilverBow Resources from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. Finally, Citigroup began coverage on shares of SilverBow Resources in a report on Wednesday, December 20th. They issued a “neutral” rating and a $34.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SilverBow Resources currently has a consensus rating of “Hold” and a consensus target price of $47.25.

Get Our Latest Report on SilverBow Resources

SilverBow Resources Trading Down 4.5 %

Shares of SBOW stock opened at $26.56 on Thursday. The business’s fifty day moving average price is $28.69 and its 200 day moving average price is $33.45. SilverBow Resources, Inc. has a 1-year low of $19.13 and a 1-year high of $43.95. The firm has a market capitalization of $675.42 million, a PE ratio of 2.09 and a beta of 2.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.70 and a quick ratio of 0.70.

SilverBow Resources (NYSE:SBOWGet Free Report) last posted its earnings results on Wednesday, November 1st. The company reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.05). The firm had revenue of $173.96 million during the quarter, compared to analyst estimates of $177.97 million. SilverBow Resources had a net margin of 45.05% and a return on equity of 31.19%. As a group, sell-side analysts forecast that SilverBow Resources, Inc. will post 5.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ellen Desanctis acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were bought at an average cost of $31.61 per share, for a total transaction of $79,025.00. Following the acquisition, the director now directly owns 2,500 shares in the company, valued at approximately $79,025. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by company insiders.

SilverBow Resources Profile

(Free Report)

SilverBow Resources, Inc, an oil and gas company, engages in exploration, development, acquisition, and operation of oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

Further Reading

Institutional Ownership by Quarter for SilverBow Resources (NYSE:SBOW)

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