Analysts forecast that SilverBow Resources (NYSE:SBOW) will post $52.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for SilverBow Resources’ earnings, with the highest sales estimate coming in at $52.90 million and the lowest estimate coming in at $52.10 million. SilverBow Resources posted sales of $53.21 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings results on Monday, May 14th.
According to Zacks, analysts expect that SilverBow Resources will report full year sales of $52.50 million for the current year, with estimates ranging from $229.70 million to $231.20 million. For the next year, analysts expect that the company will report sales of $314.40 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow SilverBow Resources.
SBOW has been the topic of a number of research reports. Zacks Investment Research downgraded SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Seaport Global Securities upgraded SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. SilverBow Resources currently has a consensus rating of “Buy” and a consensus price target of $32.50.
SBOW stock traded down $0.03 during mid-day trading on Thursday, hitting $28.28. The stock had a trading volume of 27,054 shares, compared to its average volume of 40,118. The stock has a market cap of $347.19 and a P/E ratio of 4.51. SilverBow Resources has a 52-week low of $19.89 and a 52-week high of $33.21. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.
In related news, insider Sean C. Woolverton bought 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $28.11 per share, with a total value of $25,242.78. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean C. Woolverton bought 761 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was bought at an average cost of $33.01 per share, for a total transaction of $25,120.61. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,118 shares of company stock worth $122,401.
A number of institutional investors have recently made changes to their positions in SBOW. Nationwide Fund Advisors bought a new position in SilverBow Resources in the 2nd quarter worth $104,000. Acadian Asset Management LLC bought a new position in SilverBow Resources in the 4th quarter worth $109,000. The Manufacturers Life Insurance Company bought a new position in SilverBow Resources in the 2nd quarter worth $157,000. Bank of Montreal Can bought a new position in SilverBow Resources in the 4th quarter worth $158,000. Finally, New York State Common Retirement Fund bought a new stake in SilverBow Resources during the second quarter valued at about $196,000. 67.03% of the stock is currently owned by institutional investors.
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About SilverBow Resources
SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet 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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