SilverBow Resources Inc. (SBOW) Given Consensus Recommendation of “Hold” by Brokerages
SilverBow Resources Inc. (NYSE:SBOW) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $31.67.
A number of brokerages recently commented on SBOW. Seaport Global Securities initiated coverage on shares of SilverBow Resources in a research report on Tuesday, August 1st. They set a “neutral” rating and a $25.00 price objective on the stock. Johnson Rice began coverage on shares of SilverBow Resources in a research report on Thursday, June 8th. They issued a “buy” rating for the company. BidaskClub upgraded shares of SilverBow Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Stephens initiated coverage on shares of SilverBow Resources in a research note on Friday, September 29th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Northland Securities started coverage on shares of SilverBow Resources in a research note on Thursday, September 28th. They set an “outperform” rating and a $42.00 target price for the company.
In other news, CEO Sean C. Woolverton purchased 1,106 shares of SilverBow Resources stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $22.72 per share, for a total transaction of $25,128.32. Following the acquisition, the chief executive officer now directly owns 63,804 shares in the company, valued at $1,449,626.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean C. Woolverton purchased 1,043 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $24.29 per share, with a total value of $25,334.47. Following the purchase, the chief executive officer now owns 64,847 shares in the company, valued at approximately $1,575,133.63. The disclosure for this purchase can be found here. Insiders have bought a total of 5,315 shares of company stock valued at $127,120 over the last ninety days.
A number of large investors have recently added to or reduced their stakes in SBOW. Nationwide Fund Advisors bought a new position in SilverBow Resources during the second quarter valued at approximately $104,000. SG Americas Securities LLC acquired a new stake in SilverBow Resources in the second quarter valued at approximately $148,000. The Manufacturers Life Insurance Company acquired a new stake in SilverBow Resources in the second quarter valued at approximately $157,000. New York State Common Retirement Fund acquired a new stake in SilverBow Resources in the second quarter valued at approximately $196,000. Finally, Virtu KCG Holdings LLC acquired a new stake in SilverBow Resources in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 31.00% of the company’s stock.
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SilverBow Resources (NYSE SBOW) traded down 1.33% during midday trading on Wednesday, hitting $24.52. 1,413 shares of the company traded hands. The stock has a 50 day moving average price of $22.47 and a 200-day moving average price of $25.34. SilverBow Resources has a 12-month low of $19.89 and a 12-month high of $35.70. The company has a market cap of $282.62 million and a PE ratio of 0.61.
SilverBow Resources Company Profile
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