Wedge Capital Management L L P NC Boosts Stake in Southwestern Energy Company (SWN)
Wedge Capital Management L L P NC boosted its stake in Southwestern Energy Company (NYSE:SWN) by 18.6% during the second quarter, Holdings Channel reports. The firm owned 2,082,744 shares of the energy company’s stock after buying an additional 325,959 shares during the period. Wedge Capital Management L L P NC’s holdings in Southwestern Energy were worth $12,663,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cleararc Capital Inc. raised its position in Southwestern Energy by 2.2% in the first quarter. Cleararc Capital Inc. now owns 12,185 shares of the energy company’s stock valued at $100,000 after buying an additional 261 shares during the period. Financial Counselors Inc. bought a new position in Southwestern Energy during the first quarter valued at approximately $101,000. Tudor Investment Corp ET AL bought a new position in Southwestern Energy during the first quarter valued at approximately $102,000. Pinnacle Associates Ltd. bought a new position in Southwestern Energy during the first quarter valued at approximately $103,000. Finally, Macquarie Group Ltd. raised its position in Southwestern Energy by 25.3% in the fourth quarter. Macquarie Group Ltd. now owns 9,900 shares of the energy company’s stock valued at $107,000 after buying an additional 2,000 shares during the period. 93.10% of the stock is currently owned by institutional investors and hedge funds.
Southwestern Energy Company (SWN) opened at 5.18 on Tuesday. The firm’s market capitalization is $2.58 billion. Southwestern Energy Company has a 1-year low of $5.00 and a 1-year high of $15.59. The company has a 50-day moving average price of $5.73 and a 200-day moving average price of $7.07.
Southwestern Energy (NYSE:SWN) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. The company had revenue of $811 million for the quarter, compared to analyst estimates of $810 million. Southwestern Energy had a negative net margin of 9.46% and a positive return on equity of 25.19%. The firm’s quarterly revenue was up 55.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) EPS. On average, equities research analysts predict that Southwestern Energy Company will post $0.55 earnings per share for the current fiscal year.
Several research analysts have commented on SWN shares. Cowen and Company raised Southwestern Energy from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, April 19th. Barclays PLC reissued an “equal weight” rating and issued a $9.00 price objective (down from $10.00) on shares of Southwestern Energy in a research report on Saturday, April 22nd. National Securities reissued a “buy” rating and issued a $14.00 price objective on shares of Southwestern Energy in a research report on Monday, May 1st. Iberia Capital raised their price objective on Southwestern Energy from $9.00 to $10.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada set a $10.00 price objective on Southwestern Energy and gave the company a “hold” rating in a research report on Saturday, June 10th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $12.55.
About Southwestern Energy
Southwestern Energy Company is an energy company engaged in natural gas and oil exploration, development and production. The Company operates through two segments: Exploration and Production (E&P) and Midstream Services. Its operations in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale.
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