SilverBow Resources (NYSE:SBOW) Price Target Raised to $47.00

SilverBow Resources (NYSE:SBOW - Free Report) had its target price increased by Truist Financial from $45.00 to $47.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on SBOW. TheStreet upgraded SilverBow Resources from a c rating to a b- rating in a research report on Wednesday, February 28th. Roth Mkm began coverage on shares of SilverBow Resources in a research note on Monday, February 12th. They issued a buy rating and a $41.00 price objective for the company. Mizuho boosted their target price on shares of SilverBow Resources from $42.00 to $43.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Finally, KeyCorp cut SilverBow Resources from an overweight rating to a sector weight rating in a research note on Thursday, January 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $45.00.

SilverBow Resources Price Performance

Shares of SilverBow Resources stock traded up $0.80 on Tuesday, reaching $34.32. 503,154 shares of the stock were exchanged, compared to its average volume of 393,506. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $876.53 million, a PE ratio of 4.64 and a beta of 2.52. The firm's 50 day moving average is $32.42 and its 200-day moving average is $30.55. SilverBow Resources has a one year low of $22.00 and a one year high of $43.95.

SilverBow Resources (NYSE:SBOW - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.25. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. The firm had revenue of $256.68 million during the quarter, compared to analysts' expectations of $272.27 million. During the same period in the prior year, the company earned $0.95 earnings per share. As a group, analysts anticipate that SilverBow Resources will post 8.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of SilverBow Resources by 12.9% during the third quarter. Bank of New York Mellon Corp now owns 151,156 shares of the company's stock worth $5,407,000 after acquiring an additional 17,326 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in SilverBow Resources during the 3rd quarter worth approximately $461,000. Inspire Investing LLC acquired a new position in shares of SilverBow Resources in the 3rd quarter worth approximately $307,000. Montgomery Investment Management Inc. bought a new stake in shares of SilverBow Resources in the 3rd quarter valued at $512,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of SilverBow Resources during the third quarter worth $2,104,000. 91.83% of the stock is owned by institutional investors.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an independent oil and gas company, exploration, develops, acquires, and operates oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.