Marcus C. Rowland Sells 10,000 Shares of SilverBow Resources, Inc. (NYSE:SBOW) Stock

SilverBow Resources, Inc. (NYSE:SBOW – Get Rating) Director Marcus C. Rowland sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $40.13, for a total transaction of $401,300.00. Following the sale, the director now directly owns 18,279 shares of the company’s stock, valued at approximately $733,536.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE SBOW traded up $2.71 during trading on Wednesday, hitting $41.33. 321,350 shares of the company’s stock were exchanged, compared to its average volume of 251,562. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 1.53. SilverBow Resources, Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $41.60. The stock’s 50 day moving average price is $35.23 and its two-hundred day moving average price is $28.26.

SilverBow Resources (NYSE:SBOW – Get Rating) last issued its earnings results on Wednesday, March 2nd. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $2.93 by $0.70. The firm had revenue of $151.35 million during the quarter, compared to the consensus estimate of $108.00 million. SilverBow Resources had a positive return on equity of 87.14% and a negative net margin of 1.31%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, analysts forecast that SilverBow Resources, Inc. will post 12.69 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. acquired a new position in SilverBow Resources during the third quarter worth about $2,734,000. Deutsche Bank AG acquired a new position in shares of SilverBow Resources in the third quarter valued at approximately $174,000. IPG Investment Advisors LLC acquired a new position in shares of SilverBow Resources in the fourth quarter valued at approximately $980,000. Calamos Advisors LLC acquired a new position in shares of SilverBow Resources in the fourth quarter valued at approximately $1,273,000. Finally, Russell Investments Group Ltd. increased its stake in shares of SilverBow Resources by 297.8% in the fourth quarter. Russell Investments Group Ltd. now owns 74,794 shares of the company’s stock valued at $1,626,000 after buying an additional 55,994 shares during the period. 79.93% of the stock is owned by hedge funds and other institutional investors.

SBOW has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of SilverBow Resources from $39.00 to $50.00 in a research report on Monday, April 18th. Zacks Investment Research raised shares of SilverBow Resources from a “strong sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research report on Thursday, April 21st. Finally, TheStreet raised shares of SilverBow Resources from a “d+” rating to a “c+” rating in a research report on Thursday, March 3rd.

About SilverBow Resources (Get Rating)

SilverBow Resources, Inc, an oil and gas company, acquires and develops assets in the Eagle Ford shale and Austin Chalk located in South Texas. As of December 31, 2021, it had proved reserves of 1,416 billion cubic feet of natural gas equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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