Q1 2023 Earnings Estimate for SilverBow Resources, Inc. Issued By KeyCorp (NYSE:SBOW)

SilverBow Resources, Inc. (NYSE:SBOW – Get Rating) – Equities research analysts at KeyCorp dropped their Q1 2023 earnings estimates for SilverBow Resources in a report issued on Monday, January 23rd. KeyCorp analyst T. Rezvan now anticipates that the company will earn $3.32 per share for the quarter, down from their prior estimate of $3.68. KeyCorp has a “Overweight” rating and a $48.00 price objective on the stock. The consensus estimate for SilverBow Resources’ current full-year earnings is $11.06 per share. KeyCorp also issued estimates for SilverBow Resources’ Q4 2023 earnings at $3.55 EPS, Q1 2024 earnings at $5.16 EPS, Q2 2024 earnings at $3.63 EPS, Q3 2024 earnings at $3.64 EPS, Q4 2024 earnings at $5.58 EPS and FY2024 earnings at $18.00 EPS.

SilverBow Resources Stock Performance

Shares of NYSE SBOW opened at $26.17 on Wednesday. The firm has a fifty day moving average price of $29.25 and a 200-day moving average price of $33.39. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $583.85 million, a PE ratio of 1.80 and a beta of 2.38. SilverBow Resources has a 1 year low of $19.70 and a 1 year high of $49.91.

SilverBow Resources (NYSE:SBOW – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.45. The firm had revenue of $242.18 million during the quarter, compared to analysts’ expectations of $225.07 million. SilverBow Resources had a net margin of 39.86% and a return on equity of 57.45%.

Institutional Trading of SilverBow Resources

A number of hedge funds and other institutional investors have recently modified their holdings of SBOW. JPMorgan Chase & Co. increased its stake in shares of SilverBow Resources by 518.7% in the first quarter. JPMorgan Chase & Co. now owns 7,059 shares of the company’s stock worth $226,000 after purchasing an additional 5,918 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of SilverBow Resources by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 102,019 shares of the company’s stock worth $3,264,000 after acquiring an additional 3,085 shares during the last quarter. American Century Companies Inc. boosted its position in shares of SilverBow Resources by 26.9% during the first quarter. American Century Companies Inc. now owns 61,086 shares of the company’s stock worth $1,955,000 after acquiring an additional 12,960 shares during the last quarter. Citigroup Inc. boosted its position in shares of SilverBow Resources by 136.9% during the first quarter. Citigroup Inc. now owns 32,132 shares of the company’s stock worth $1,028,000 after acquiring an additional 18,570 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of SilverBow Resources by 0.4% during the first quarter. BlackRock Inc. now owns 110,784 shares of the company’s stock worth $3,545,000 after acquiring an additional 496 shares during the last quarter. 88.05% of the stock is owned by hedge funds and other institutional investors.

SilverBow Resources Company Profile

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SilverBow Resources, Inc engages in the exploration, development, and production of oil and gas. It is focused on acquiring and developing assets in the Eagle Ford Shale and Austin Chalk. The firm’s operations are focused in six fields: Artesia, AWP, Fasken, Eastern Eagle Food and Southern Eagle Ford Gas.