Panagora Asset Management Inc. lifted its position in SilverBow Resources Inc (NYSE:SBOW) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,210 shares of the company’s stock after acquiring an additional 4,463 shares during the quarter. Panagora Asset Management Inc. owned 0.46% of SilverBow Resources worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SBOW. Northpointe Capital LLC purchased a new position in SilverBow Resources in the third quarter valued at about $139,000. Rhumbline Advisers purchased a new position in SilverBow Resources in the second quarter valued at about $211,000. Mackay Shields LLC purchased a new position in SilverBow Resources in the second quarter valued at about $219,000. Bessemer Group Inc. purchased a new stake in shares of SilverBow Resources during the third quarter worth about $221,000. Finally, First Trust Advisors LP purchased a new stake in shares of SilverBow Resources during the third quarter worth about $250,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

A number of brokerages have recently weighed in on SBOW. Zacks Investment Research upgraded SilverBow Resources from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, November 15th. ValuEngine lowered SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Finally, SunTrust Banks lowered SilverBow Resources from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $30.00 in a research note on Monday, September 24th.

In related news, Director Marcus C. Rowland sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $28.71, for a total value of $344,520.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders purchased 2,086 shares of company stock worth $51,937. 2.40% of the stock is owned by insiders.

Shares of NYSE SBOW opened at $21.88 on Friday. The company has a market capitalization of $264.36 million, a P/E ratio of 3.60 and a beta of 0.52. SilverBow Resources Inc has a 52 week low of $21.07 and a 52 week high of $34.76. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.31 and a current ratio of 0.31.

SilverBow Resources (NYSE:SBOW) last issued its earnings results on Tuesday, November 6th. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.64). The firm had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $61.10 million. SilverBow Resources had a net margin of 18.88% and a return on equity of 20.00%. Sell-side analysts predict that SilverBow Resources Inc will post 5.6 earnings per share for the current fiscal year.

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SilverBow Resources Company Profile

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.

See Also: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for SilverBow Resources (NYSE:SBOW)

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