Renaissance Technologies LLC Sells 3,003,956 Shares of Southwestern Energy (NYSE:SWN)

Renaissance Technologies LLC trimmed its stake in shares of Southwestern Energy (NYSE:SWN) by 19.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,374,625 shares of the energy company’s stock after selling 3,003,956 shares during the quarter. Renaissance Technologies LLC owned approximately 1.12% of Southwestern Energy worth $83,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SWN. Rise Advisors LLC bought a new position in shares of Southwestern Energy during the first quarter worth about $25,000. Pingora Partners LLC bought a new position in shares of Southwestern Energy during the fourth quarter worth about $30,000. Larson Financial Group LLC raised its position in shares of Southwestern Energy by 4,752.1% during the second quarter. Larson Financial Group LLC now owns 5,871 shares of the energy company’s stock worth $40,000 after acquiring an additional 5,750 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Southwestern Energy during the first quarter worth about $43,000. Finally, Choreo LLC acquired a new stake in Southwestern Energy during the second quarter worth approximately $69,000. 86.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler decreased their target price on Southwestern Energy from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Susquehanna decreased their target price on Southwestern Energy from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Monday, August 19th. StockNews.com assumed coverage on Southwestern Energy in a research note on Wednesday, September 11th. They set a “sell” rating for the company. Wolfe Research started coverage on Southwestern Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank reduced their price objective on Southwestern Energy from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Southwestern Energy has a consensus rating of “Hold” and an average price target of $8.50.

Southwestern Energy Price Performance

Shares of NYSE:SWN opened at $6.26 on Tuesday. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of -3.60 and a beta of 1.12. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.01. Southwestern Energy has a 12-month low of $5.85 and a 12-month high of $7.80. The business’s 50 day moving average is $6.36 and its 200 day moving average is $6.93.

Southwestern Energy (NYSE:SWN) last announced its earnings results on Thursday, August 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Southwestern Energy had a positive return on equity of 10.55% and a negative net margin of 48.91%. Southwestern Energy’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, sell-side analysts forecast that Southwestern Energy will post 0.61 earnings per share for the current fiscal year.

About Southwestern Energy

Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.