SilverBow Resources (NYSE:SBOW) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of SilverBow Resources (NYSE:SBOW) from a hold rating to a strong sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Separately, Northland Securities set a $50.00 price objective on shares of Polarityte and gave the company a buy rating in a research note on Friday, May 10th.

SBOW stock opened at $12.97 on Friday. The stock has a market cap of $158.73 million, a PE ratio of 2.05 and a beta of 0.48. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.45 and a quick ratio of 0.45. SilverBow Resources has a one year low of $12.46 and a one year high of $31.94. The stock has a 50 day moving average price of $13.73.

SilverBow Resources (NYSE:SBOW) last released its earnings results on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.19). SilverBow Resources had a return on equity of 33.18% and a net margin of 29.72%. The firm had revenue of $72.06 million during the quarter, compared to analysts’ expectations of $68.80 million. On average, equities analysts anticipate that SilverBow Resources will post 6.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in shares of SilverBow Resources during the 4th quarter worth approximately $245,000. First Trust Advisors LP lifted its stake in shares of SilverBow Resources by 18.9% during the 4th quarter. First Trust Advisors LP now owns 11,170 shares of the company’s stock worth $264,000 after acquiring an additional 1,779 shares during the last quarter. BlackRock Inc. raised its position in SilverBow Resources by 4.9% during the 4th quarter. BlackRock Inc. now owns 388,437 shares of the company’s stock valued at $9,182,000 after purchasing an additional 18,245 shares in the last quarter. Bessemer Group Inc. raised its position in SilverBow Resources by 118.1% during the 4th quarter. Bessemer Group Inc. now owns 18,100 shares of the company’s stock valued at $428,000 after purchasing an additional 9,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in SilverBow Resources by 19.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 220,736 shares of the company’s stock valued at $5,218,000 after purchasing an additional 36,276 shares in the last quarter. 82.82% of the stock is owned by 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, 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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