SilverBow Resources (NYSE:SBOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other equities analysts have also issued reports on SBOW. ValuEngine raised SilverBow Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. SunTrust Banks lowered SilverBow Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $37.00 to $30.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

SBOW opened at $26.60 on Thursday. SilverBow Resources has a 12 month low of $21.53 and a 12 month high of $34.76. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $313.38 million, a P/E ratio of 4.38 and a beta of 0.72.

SilverBow Resources (NYSE:SBOW) last posted its earnings results on Tuesday, August 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.55). SilverBow Resources had a net margin of 23.04% and a return on equity of 24.31%. The business had revenue of $51.35 million during the quarter, compared to analyst estimates of $48.05 million. research analysts expect that SilverBow Resources will post 5.19 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SBOW. Bank of New York Mellon Corp boosted its stake in shares of SilverBow Resources by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,455 shares of the company’s stock worth $2,612,000 after acquiring an additional 2,379 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of SilverBow Resources by 25.3% during the 2nd quarter. California Public Employees Retirement System now owns 8,906 shares of the company’s stock worth $257,000 after acquiring an additional 1,797 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of SilverBow Resources during the 2nd quarter worth $329,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of SilverBow Resources during the 2nd quarter worth $546,000. Finally, Globeflex Capital L P boosted its stake in shares of SilverBow Resources by 12.0% during the 2nd quarter. Globeflex Capital L P now owns 15,790 shares of the company’s stock worth $456,000 after acquiring an additional 1,686 shares in the last quarter. 81.03% of the stock is owned by hedge funds and other 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, 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.

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