Readystate Asset Management LP Lowers Position in Southwestern Energy (NYSE:SWN)

Readystate Asset Management LP cut its holdings in Southwestern Energy (NYSE:SWN) by 63.1% in the fourth quarter, Holdings Channel reports. The fund owned 126,072 shares of the energy company’s stock after selling 215,400 shares during the quarter. Readystate Asset Management LP’s holdings in Southwestern Energy were worth $826,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its stake in Southwestern Energy by 30.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,747 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,564 shares during the period. Creative Planning lifted its stake in Southwestern Energy by 2.0% in the fourth quarter. Creative Planning now owns 81,202 shares of the energy company’s stock worth $532,000 after acquiring an additional 1,592 shares during the period. D.A. Davidson & CO. lifted its stake in Southwestern Energy by 7.2% in the first quarter. D.A. Davidson & CO. now owns 24,715 shares of the energy company’s stock worth $177,000 after acquiring an additional 1,668 shares during the period. Teacher Retirement System of Texas lifted its stake in Southwestern Energy by 0.5% in the third quarter. Teacher Retirement System of Texas now owns 352,696 shares of the energy company’s stock worth $2,275,000 after acquiring an additional 1,889 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Southwestern Energy by 12.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 17,512 shares of the energy company’s stock valued at $107,000 after buying an additional 1,994 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Southwestern Energy Stock Performance

Shares of Southwestern Energy stock traded up $0.01 during midday trading on Thursday, hitting $7.28. The company had a trading volume of 7,948,235 shares, compared to its average volume of 17,406,291. Southwestern Energy has a 12-month low of $4.57 and a 12-month high of $7.69. The company has a fifty day simple moving average of $7.12 and a 200 day simple moving average of $6.81. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.67. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 5.16 and a beta of 1.12.

Southwestern Energy (NYSE:SWN) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Southwestern Energy had a net margin of 23.87% and a return on equity of 11.74%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Southwestern Energy’s quarterly revenue was down 49.9% on a year-over-year basis. As a group, analysts predict that Southwestern Energy will post 0.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating and set a $6.60 price target (down from $8.50) on shares of Southwestern Energy in a research report on Tuesday, January 23rd. Citigroup increased their price target on shares of Southwestern Energy from $8.00 to $8.24 and gave the company a “buy” rating in a research report on Friday, January 12th. Scotiabank lowered shares of Southwestern Energy from a “sector outperform” rating to a “sector perform” rating and increased their price target for the company from $9.00 to $9.50 in a research report on Thursday, April 11th. Mizuho raised shares of Southwestern Energy from an “underperform” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a research report on Monday, February 26th. Finally, StockNews.com assumed coverage on shares of Southwestern Energy in a research report on Friday, April 12th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.11.

Southwestern Energy Profile

Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.