Denali Advisors LLC Acquires 15,600 Shares of SilverBow Resources, Inc. (NYSE:SBOW)

Denali Advisors LLC grew its position in SilverBow Resources, Inc. (NYSE:SBOW) by 62.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,600 shares of the company’s stock after purchasing an additional 15,600 shares during the period. Denali Advisors LLC owned about 0.16% of SilverBow Resources worth $1,386,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in SilverBow Resources during the 4th quarter worth about $1,404,000. Kore Advisors LP acquired a new position in SilverBow Resources during the 4th quarter valued at about $9,366,000. Walleye Capital LLC acquired a new position in SilverBow Resources during the 3rd quarter valued at about $1,395,000. HBK Investments L P acquired a new position in SilverBow Resources during the 4th quarter valued at about $582,000. Finally, Quadrature Capital Ltd acquired a new position in SilverBow Resources during the 3rd quarter valued at about $1,429,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

SilverBow Resources Trading Up 1.9 %

Shares of SBOW stock traded up $0.72 during mid-day trading on Wednesday, reaching $38.74. 234,855 shares of the stock traded hands, compared to its average volume of 509,712. The stock’s fifty day simple moving average is $36.16 and its two-hundred day simple moving average is $32.00. SilverBow Resources, Inc. has a 1-year low of $25.19 and a 1-year high of $43.95. The company has a market cap of $989.42 million, a price-to-earnings ratio of 5.24 and a beta of 2.58. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.88.

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. The company had revenue of $256.68 million for the quarter, compared to analyst estimates of $272.27 million. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, research analysts anticipate that SilverBow Resources, Inc. will post 8.64 EPS for the current fiscal year.

Insider Buying and Selling

In other SilverBow Resources news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $37.00, for a total value of $77,700,000.00. Following the transaction, the insider now directly owns 1,181,356 shares of the company’s stock, valued at $43,710,172. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBOW. Truist Financial upped their price target on SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.33.

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.