SilverBow Resources (SBOW) Scheduled to Post Quarterly Earnings on Wednesday

Posted by MarketBeat News on Aug 1st, 2022

SilverBow Resources (NYSE:SBOW – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, August 3rd. Analysts expect SilverBow Resources to post earnings of $1.31 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

SilverBow Resources (NYSE:SBOW – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.56. SilverBow Resources had a negative net margin of 1.31% and a positive return on equity of 87.14%. The company had revenue of $129.66 million during the quarter, compared to analysts’ expectations of $103.00 million. On average, analysts expect SilverBow Resources to post $12 EPS for the current fiscal year and $18 EPS for the next fiscal year.

SilverBow Resources Stock Performance

NYSE:SBOW opened at $45.19 on Monday. SilverBow Resources has a 1 year low of $15.75 and a 1 year high of $49.27. The firm has a 50 day moving average of $36.00 and a 200-day moving average of $31.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $820.20 million, a P/E ratio of -37.35 and a beta of 2.02.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of SilverBow Resources from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. TheStreet cut shares of SilverBow Resources from a “c” rating to a “d+” rating in a research report on Wednesday, July 13th.

Insider Buying and Selling

In related news, major shareholder Kimmeridge Energy Management C acquired 278,378 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was purchased at an average price of $29.45 per share, for a total transaction of $8,198,232.10. Following the transaction, the insider now directly owns 2,981,356 shares of the company’s stock, valued at approximately $87,800,934.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SilverBow Resources news, major shareholder Kimmeridge Energy Management C bought 278,378 shares of the stock in a transaction on Friday, July 8th. The stock was purchased at an average price of $29.45 per share, with a total value of $8,198,232.10. Following the acquisition, the insider now owns 2,981,356 shares of the company’s stock, valued at $87,800,934.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marcus C. Rowland sold 10,000 shares of SilverBow Resources stock in a transaction on 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 disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SilverBow Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBOW. Vanguard Group Inc. raised its holdings in shares of SilverBow Resources by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 487,074 shares of the company’s stock valued at $15,586,000 after purchasing an additional 51,037 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of SilverBow Resources by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 395,831 shares of the company’s stock valued at $12,668,000 after purchasing an additional 26,758 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of SilverBow Resources by 1,481.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,747 shares of the company’s stock valued at $9,432,000 after purchasing an additional 276,115 shares during the period. Invesco Ltd. bought a new stake in shares of SilverBow Resources in the 1st quarter valued at about $4,438,000. Finally, BlackRock Inc. raised its holdings in shares of SilverBow Resources by 0.4% in the 1st quarter. BlackRock Inc. now owns 110,784 shares of the company’s stock valued at $3,545,000 after purchasing an additional 496 shares during the period. 79.93% of the stock is owned by institutional investors.

About SilverBow Resources

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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.