Arizona State Retirement System Trims Stake in Southwestern Energy (NYSE:SWN)

Arizona State Retirement System reduced its position in Southwestern Energy (NYSE:SWNGet Rating) by 17.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 150,900 shares of the energy company’s stock after selling 31,318 shares during the period. Arizona State Retirement System’s holdings in Southwestern Energy were worth $1,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its stake in Southwestern Energy by 198.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 9,999,232 shares of the energy company’s stock valued at $71,695,000 after acquiring an additional 6,652,802 shares during the last quarter. Islay Capital Management LLC purchased a new stake in Southwestern Energy during the 1st quarter valued at approximately $176,000. Schnieders Capital Management LLC purchased a new stake in Southwestern Energy during the 1st quarter valued at approximately $72,000. Comerica Bank raised its stake in Southwestern Energy by 9.6% during the 1st quarter. Comerica Bank now owns 961,754 shares of the energy company’s stock valued at $7,915,000 after acquiring an additional 84,169 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Southwestern Energy during the 1st quarter valued at approximately $25,000. 85.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SWN has been the subject of several analyst reports. Bank of America raised Southwestern Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, July 19th. Citigroup reaffirmed a “buy” rating and set a $8.00 price objective on shares of Southwestern Energy in a research note on Thursday, July 21st. Piper Sandler boosted their target price on Southwestern Energy to $13.00 in a research report on Friday, June 3rd. Benchmark upgraded Southwestern Energy from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, June 15th. Finally, Morgan Stanley dropped their target price on Southwestern Energy from $8.50 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.35.

Southwestern Energy Price Performance

Shares of NYSE:SWN opened at $6.92 on Tuesday. The business’s fifty day moving average price is $7.38 and its two-hundred day moving average price is $6.50. The stock has a market cap of $7.72 billion, a PE ratio of -2.07 and a beta of 1.23. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.22 and a current ratio of 0.22. Southwestern Energy has a one year low of $3.81 and a one year high of $9.87.

Southwestern Energy announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About Southwestern Energy

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Southwestern Energy (NYSE:SWN)

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