SilverBow Resources (NYSE:SBOW) Shares Gap Up to $32.35

SilverBow Resources, Inc. (NYSE:SBOW - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $32.35, but opened at $35.66. SilverBow Resources shares last traded at $36.76, with a volume of 2,013,866 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TheStreet raised shares of SilverBow Resources from a "c" rating to a "b-" rating in a research note on Wednesday, February 28th. Truist Financial upped their price objective on shares of SilverBow Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, May 7th. Roth Mkm began coverage on SilverBow Resources in a research note on Monday, February 12th. They issued a "buy" rating and a $41.00 target price on the stock. Finally, Mizuho increased their price objective on SilverBow Resources from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.33.

SilverBow Resources Stock Performance

The firm has a market cap of $935.27 million, a P/E ratio of 4.95 and a beta of 2.52. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $32.96 and a 200-day simple moving average of $30.57.

SilverBow Resources (NYSE:SBOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.25. SilverBow Resources had a net margin of 24.41% and a return on equity of 16.48%. The company had revenue of $256.68 million during the quarter, compared to analysts' expectations of $272.27 million. During the same period last year, the company posted $0.95 EPS. On average, sell-side analysts predict that SilverBow Resources, Inc. will post 8.64 EPS for the current fiscal year.

Institutional Trading of SilverBow Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC purchased a new position in SilverBow Resources in the first quarter worth about $214,000. Caxton Associates LP purchased a new position in SilverBow Resources in the 1st quarter worth approximately $754,000. Price T Rowe Associates Inc. MD purchased a new position in SilverBow Resources in the 1st quarter worth approximately $227,000. Lazard Asset Management LLC boosted its stake in SilverBow Resources by 277.6% during the 1st quarter. Lazard Asset Management LLC now owns 71,715 shares of the company's stock valued at $2,447,000 after purchasing an additional 52,722 shares during the last quarter. Finally, American International Group Inc. boosted its stake in SilverBow Resources by 9.6% during the 1st quarter. American International Group Inc. now owns 11,494 shares of the company's stock valued at $392,000 after purchasing an additional 1,007 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

About SilverBow Resources

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.