SilverBow Resources Inc. (SBOW) Receives $31.67 Consensus Target Price from Analysts

Shares of SilverBow Resources Inc. (NYSE:SBOW) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $31.67.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of SilverBow Resources from a “sell” rating to a “hold” rating in a report on Friday, November 10th. BidaskClub lowered shares of SilverBow Resources from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Stephens assumed coverage on shares of SilverBow Resources in a report on Friday, September 29th. They set an “overweight” rating and a $28.00 target price for the company. Northland Securities assumed coverage on shares of SilverBow Resources in a report on Thursday, September 28th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Seaport Global Securities assumed coverage on shares of SilverBow Resources in a report on Tuesday, August 1st. They set a “neutral” rating and a $25.00 target price for the company.

In other news, CEO Sean C. Woolverton acquired 1,119 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average price of $22.86 per share, with a total value of $25,580.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean C. Woolverton acquired 1,043 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $24.29 per share, with a total value of $25,334.47. Following the acquisition, the chief executive officer now directly owns 64,847 shares of the company’s stock, valued at approximately $1,575,133.63. The disclosure for this purchase can be found here. Insiders have bought 5,550 shares of company stock valued at $127,280 in the last ninety days.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pentwater Capital Management LP purchased a new stake in shares of SilverBow Resources in the second quarter valued at about $15,114,000. Matlinpatterson Global Advisers LLC purchased a new stake in shares of SilverBow Resources in the second quarter valued at about $9,405,000. Wells Fargo & Company MN grew its holdings in shares of SilverBow Resources by 2.3% in the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock valued at $7,178,000 after purchasing an additional 6,628 shares during the period. Vanguard Group Inc. purchased a new stake in shares of SilverBow Resources in the second quarter valued at about $4,637,000. Finally, State Street Corp purchased a new stake in shares of SilverBow Resources in the second quarter valued at about $1,834,000. 29.90% of the stock is owned by hedge funds and other institutional investors.

SilverBow Resources (NYSE:SBOW) traded up $0.58 during trading on Thursday, hitting $22.88. 9,437 shares of the stock were exchanged, compared to its average volume of 40,228. SilverBow Resources has a fifty-two week low of $19.89 and a fifty-two week high of $35.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

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