SilverBow Resources (NYSE:SBOW) Releases Earnings Results

SilverBow Resources (NYSE:SBOW) posted its quarterly earnings results on Wednesday. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.25, Zacks reports. The business had revenue of $256.68 million during the quarter, compared to analyst estimates of $272.27 million. SilverBow Resources had a net margin of 45.64% and a return on equity of 14.50%. During the same period in the prior year, the business posted $0.95 earnings per share.

SilverBow Resources Trading Up 4.9 %

Shares of SBOW traded up $1.42 during midday trading on Thursday, hitting $30.59. The stock had a trading volume of 582,464 shares, compared to its average volume of 393,165. SilverBow Resources has a 1 year low of $21.08 and a 1 year high of $43.95. The firm has a market cap of $780.66 million, a PE ratio of 2.54 and a beta of 2.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day moving average is $32.07 and its 200 day moving average is $30.68.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBOW. Roth Mkm began coverage on shares of SilverBow Resources in a research report on Monday, February 12th. They set a “buy” rating and a $41.00 target price for the company. TheStreet upgraded shares of SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Mizuho upped their price target on shares of SilverBow Resources from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 11th. Finally, Truist Financial decreased their price target on shares of SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an independent oil and gas company, exploration, develops, acquires, and operates oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.