Assenagon Asset Management S.A. Lowers Stake in SilverBow Resources, Inc. (NYSE:SBOW)

Assenagon Asset Management S.A. reduced its stake in shares of SilverBow Resources, Inc. (NYSE:SBOW - Free Report) by 89.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,415 shares of the company's stock after selling 249,825 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of SilverBow Resources worth $1,038,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Walleye Capital LLC purchased a new stake in shares of SilverBow Resources during the third quarter valued at $1,395,000. Quadrature Capital Ltd purchased a new stake in shares of SilverBow Resources during the third quarter valued at $1,429,000. Wellington Management Group LLP purchased a new stake in SilverBow Resources in the third quarter worth about $7,659,000. Adage Capital Partners GP L.L.C. purchased a new stake in SilverBow Resources in the third quarter worth about $4,769,000. Finally, Swiss National Bank lifted its stake in SilverBow Resources by 12.5% in the third quarter. Swiss National Bank now owns 33,200 shares of the company's stock worth $1,188,000 after acquiring an additional 3,700 shares during the period. 91.83% of the stock is owned by hedge funds and other institutional investors.

SilverBow Resources Stock Down 1.1 %

Shares of SBOW stock traded down $0.44 during mid-day trading on Tuesday, hitting $38.10. 1,034,036 shares of the stock traded hands, compared to its average volume of 471,709. The stock has a market cap of $973.07 million, a P/E ratio of 5.15 and a beta of 2.52. The stock's fifty day moving average is $33.37 and its two-hundred day moving average is $30.57. SilverBow Resources, Inc. has a 52-week low of $22.14 and a 52-week high of $43.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.63 and a quick ratio of 0.63.

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

Analyst Ratings Changes

A number of analysts recently weighed in 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. Roth Mkm assumed 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. Truist Financial upped their price objective on shares of SilverBow Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, May 7th. Finally, Mizuho upped their price objective on shares of SilverBow Resources from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

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.

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