SilverBow Resources Inc (NYSE:SBOW) – Investment analysts at SunTrust Banks raised their Q3 2018 earnings estimates for SilverBow Resources in a research note issued on Monday, September 24th. SunTrust Banks analyst N. Dingmann now anticipates that the company will post earnings of $1.09 per share for the quarter, up from their previous estimate of $1.08. SunTrust Banks has a “Hold” rating and a $30.00 price target on the stock. SunTrust Banks also issued estimates for SilverBow Resources’ Q4 2018 earnings at $1.46 EPS, FY2019 earnings at $6.73 EPS and FY2020 earnings at $8.19 EPS.
SilverBow Resources (NYSE:SBOW) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.55). SilverBow Resources had a return on equity of 24.31% and a net margin of 23.04%. The company had revenue of $51.35 million during the quarter, compared to the consensus estimate of $48.05 million.
A number of other research firms also recently weighed in on SBOW. ValuEngine downgraded shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Zacks Investment Research raised shares of SilverBow Resources from a “strong sell” rating to a “hold” rating and set a $34.00 target price on the stock in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.80.
Shares of NYSE SBOW opened at $26.60 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.33 and a quick ratio of 0.33. SilverBow Resources has a 12 month low of $21.53 and a 12 month high of $34.76. The firm has a market capitalization of $313.38 million, a price-to-earnings ratio of 6.65 and a beta of 0.72.
Several large investors have recently added to or reduced their stakes in SBOW. Dimensional Fund Advisors LP grew its position in shares of SilverBow Resources by 115.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 109,577 shares of the company’s stock worth $3,189,000 after buying an additional 58,744 shares during the period. BlackRock Inc. grew its position in shares of SilverBow Resources by 9.0% in the 2nd quarter. BlackRock Inc. now owns 367,415 shares of the company’s stock worth $10,610,000 after buying an additional 30,432 shares during the period. Russell Investments Group Ltd. grew its position in shares of SilverBow Resources by 935.0% in the 1st quarter. Russell Investments Group Ltd. now owns 26,590 shares of the company’s stock worth $773,000 after buying an additional 24,021 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of SilverBow Resources in the 1st quarter worth about $660,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of SilverBow Resources in the 2nd quarter worth about $546,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
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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