SilverBow Resources (SBOW) Stock Rating Lowered by SunTrust Banks
SilverBow Resources (NYSE:SBOW) was downgraded by SunTrust Banks from a “buy” rating to a “hold” rating in a report issued on Monday, The Fly reports.
SBOW has been the subject of a number of other research reports. ValuEngine cut shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research upgraded shares of SilverBow Resources from a “strong sell” rating to a “hold” rating and set a $34.00 price target for the company in a research note on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. SilverBow Resources currently has an average rating of “Hold” and a consensus price target of $33.20.
SBOW traded up $0.51 during trading hours on Monday, hitting $29.02. 15,029 shares of the company’s stock were exchanged, compared to its average volume of 28,993. SilverBow Resources has a 1-year low of $21.53 and a 1-year high of $34.76. The stock has a market capitalization of $332.63 million, a price-to-earnings ratio of 4.77 and a beta of 0.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.32.
A number of hedge funds have recently made changes to their positions in SBOW. Dimensional Fund Advisors LP lifted its stake in SilverBow Resources by 115.6% in the first quarter. Dimensional Fund Advisors LP now owns 109,577 shares of the company’s stock valued at $3,189,000 after acquiring an additional 58,744 shares during the last quarter. BlackRock Inc. lifted its stake in SilverBow Resources by 9.0% in the second quarter. BlackRock Inc. now owns 367,415 shares of the company’s stock valued at $10,610,000 after acquiring an additional 30,432 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in SilverBow Resources by 935.0% in the first quarter. Russell Investments Group Ltd. now owns 26,590 shares of the company’s stock valued at $773,000 after acquiring an additional 24,021 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in SilverBow Resources in the first quarter valued at $660,000. Finally, Matarin Capital Management LLC acquired a new stake in SilverBow Resources in the first quarter valued at $575,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.
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.
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