SilverBow Resources, Inc. (NYSE:SBOW – Get Rating) – Research analysts at Truist Financial dropped their Q3 2022 earnings per share estimates for SilverBow Resources in a report issued on Thursday, March 3rd. Truist Financial analyst N. Dingmann now anticipates that the company will post earnings per share of $1.84 for the quarter, down from their prior estimate of $2.12. Truist Financial has a “Buy” rating and a $39.00 price target on the stock. Truist Financial also issued estimates for SilverBow Resources’ Q4 2022 earnings at $2.21 EPS. SilverBow Resources (NYSE:SBOW – Get Rating) last released its quarterly earnings results on Wednesday, March 2nd. The company reported $4.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $1.29. SilverBow Resources had a positive return on equity of 87.03% and a negative net margin of 5.87%. During the same period in the prior year, the business posted $0.77 EPS.
Several other research analysts also recently commented on the stock. TheStreet upgraded shares of SilverBow Resources from a “d+” rating to a “c+” rating in a research report on Thursday. Zacks Investment Research downgraded shares of SilverBow Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 20th.
Shares of NYSE:SBOW opened at $27.69 on Monday. SilverBow Resources has a 12-month low of $7.31 and a 12-month high of $34.83. The stock has a market cap of $448.83 million, a PE ratio of -19.64 and a beta of 2.23. The business has a 50 day moving average of $23.61 and a 200-day moving average of $23.87. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 4.41.
A number of large investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its position in SilverBow Resources by 1.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 520,524 shares of the company’s stock worth $11,332,000 after purchasing an additional 7,753 shares during the period. Vanguard Group Inc. boosted its stake in shares of SilverBow Resources by 53.7% during the 2nd quarter. Vanguard Group Inc. now owns 397,473 shares of the company’s stock valued at $9,229,000 after purchasing an additional 138,885 shares in the last quarter. Millennium Management LLC boosted its stake in shares of SilverBow Resources by 443.7% during the 4th quarter. Millennium Management LLC now owns 237,072 shares of the company’s stock valued at $5,161,000 after purchasing an additional 193,465 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of SilverBow Resources by 63.1% during the 4th quarter. Acadian Asset Management LLC now owns 220,148 shares of the company’s stock valued at $4,790,000 after purchasing an additional 85,199 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in SilverBow Resources by 25.7% during the third quarter. Two Sigma Advisers LP now owns 194,900 shares of the company’s stock worth $4,775,000 after acquiring an additional 39,800 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Steven W. Adam sold 4,804 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $27.00, for a total value of $129,708.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.
About SilverBow Resources (Get Rating)
SilverBow Resources, Inc is a growth-oriented independent oil and gas company. It engages in the acquiring and developing assets in the Eagle Ford Shale. The company was founded on October 11, 1979 and is headquartered in Houston, TX.
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