SilverBow Resources, Inc. (NYSE:SBOW) Major Shareholder Kimmeridge Energy Management C Sells 2,100,000 Shares

SilverBow Resources, Inc. (NYSE:SBOW) major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $37.00, for a total transaction of $77,700,000.00. Following the completion of the transaction, the insider now owns 1,181,356 shares of the company’s stock, valued at $43,710,172. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

SilverBow Resources Trading Up 0.9 %

SilverBow Resources stock opened at $37.80 on Tuesday. The company has a 50 day moving average price of $35.29 and a 200 day moving average price of $31.63. SilverBow Resources, Inc. has a 52 week low of $25.19 and a 52 week high of $43.95. 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 capitalization of $965.41 million, a price-to-earnings ratio of 5.11 and a beta of 2.52.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 EPS for the quarter, topping 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 firm had revenue of $256.68 million during the quarter, compared to analyst estimates of $272.27 million. During the same quarter last year, the business posted $0.95 EPS. Research analysts forecast that SilverBow Resources, Inc. will post 8.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TheStreet upgraded shares of SilverBow Resources from a “c” rating to a “b-” rating in a report on Wednesday, February 28th. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, Truist Financial raised their target price on shares of SilverBow Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.33.

Institutional Investors Weigh In On SilverBow Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBOW. DekaBank Deutsche Girozentrale purchased a new stake in SilverBow Resources in the 3rd quarter worth approximately $50,000. Allspring Global Investments Holdings LLC lifted its position in SilverBow Resources by 138.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,126 shares of the company’s stock worth $91,000 after buying an additional 1,815 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in SilverBow Resources by 33.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,303 shares of the company’s stock worth $125,000 after buying an additional 1,089 shares in the last quarter. ORG Partners LLC lifted its position in SilverBow Resources by 8,624.0% in the 4th quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock worth $127,000 after buying an additional 4,312 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in SilverBow Resources in the 1st quarter worth approximately $214,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.