SilverBow Resources Inc (NYSE:SBOW) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 187,300 shares, an increase of 47.0% from the July 31st total of 127,400 shares. Based on an average trading volume of 23,900 shares, the short-interest ratio is currently 7.8 days. Approximately 1.8% of the shares of the company are short sold.
A number of brokerages have recently issued reports on SBOW. Zacks Investment Research raised SilverBow Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, August 15th. Northland Securities reissued a “buy” rating and issued a $14.00 target price on shares of SilverBow Resources in a report on Sunday, September 1st.
A number of hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management increased its holdings in SilverBow Resources by 1.5% during the 1st quarter. LSV Asset Management now owns 55,171 shares of the company’s stock valued at $1,268,000 after purchasing an additional 800 shares in the last quarter. Northern Trust Corp increased its holdings in SilverBow Resources by 1.7% during the 2nd quarter. Northern Trust Corp now owns 86,184 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,473 shares in the last quarter. Strs Ohio increased its holdings in SilverBow Resources by 13.7% during the 2nd quarter. Strs Ohio now owns 30,700 shares of the company’s stock valued at $425,000 after purchasing an additional 3,700 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in SilverBow Resources by 84.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,571 shares of the company’s stock valued at $119,000 after purchasing an additional 3,913 shares in the last quarter. Finally, Price Wealth Management Inc. acquired a new stake in SilverBow Resources during the 2nd quarter valued at $71,000. 82.12% of the stock is owned by hedge funds and other institutional investors.
Shares of SBOW traded up $0.16 during mid-day trading on Friday, reaching $10.93. The company had a trading volume of 43,983 shares, compared to its average volume of 27,530. SilverBow Resources has a twelve month low of $7.40 and a twelve month high of $29.87. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50-day moving average is $9.08 and its 200-day moving average is $15.47. The company has a market capitalization of $122.05 million, a P/E ratio of 1.72 and a beta of 0.53.
SilverBow Resources (NYSE:SBOW) last issued its earnings results on Wednesday, August 7th. The company reported $5.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $4.21. SilverBow Resources had a return on equity of 50.63% and a net margin of 48.20%. The business had revenue of $74.70 million during the quarter, compared to analysts’ expectations of $70.30 million. As a group, equities analysts expect that SilverBow Resources will post 7.95 EPS for the current fiscal year.
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, 2018, it had proved reserves of 1,345 MMcfe. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
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