SilverBow Resources (SBOW) Downgraded to Hold at Zacks Investment Research

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

SBOW has been the subject of several other reports. SunTrust Banks lowered SilverBow Resources from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $30.00 in a research note on Monday. ValuEngine lowered SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Two 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 target price of $31.80.

NYSE SBOW opened at $26.60 on Thursday. SilverBow Resources has a fifty-two week low of $21.53 and a fifty-two week high of $34.76. The firm has a market capitalization of $313.38 million, a PE ratio of 4.38 and a beta of 0.72. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.32.

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

A number of large investors have recently added to or reduced their stakes in SBOW. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SilverBow Resources during the 1st quarter worth approximately $160,000. Rhumbline Advisers acquired a new stake in shares of SilverBow Resources during the 2nd quarter worth approximately $211,000. Mackay Shields LLC acquired a new stake in shares of SilverBow Resources during the 2nd quarter worth approximately $219,000. California Public Employees Retirement System raised its position 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 purchasing an additional 1,797 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of SilverBow Resources during the 2nd quarter worth approximately $329,000. 81.03% of the stock is currently owned by institutional investors.

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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