Wellington Management Group LLP Purchases 3,632 Shares of SilverBow Resources, Inc. (NYSE:SBOW)

Wellington Management Group LLP lifted its position in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 217,753 shares of the company’s stock after buying an additional 3,632 shares during the quarter. Wellington Management Group LLP owned approximately 0.86% of SilverBow Resources worth $6,332,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of SilverBow Resources in the fourth quarter valued at about $1,404,000. Kore Advisors LP bought a new position in SilverBow Resources in the 4th quarter worth approximately $9,366,000. Walleye Capital LLC purchased a new stake in SilverBow Resources during the 3rd quarter valued at approximately $1,395,000. Quadrature Capital Ltd purchased a new position in shares of SilverBow Resources in the third quarter worth $1,429,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of SilverBow Resources during the third quarter worth $4,769,000. Institutional investors own 91.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBOW. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Truist Financial raised their price target on SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SilverBow Resources has an average rating of “Hold” and a consensus target price of $45.33.

Insider Buying and Selling

In other news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $37.00, for a total value of $77,700,000.00. Following the sale, the insider now directly owns 1,181,356 shares in the company, valued at $43,710,172. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

SilverBow Resources Price Performance

Shares of SilverBow Resources stock opened at $37.83 on Friday. The stock has a market cap of $966.18 million, a price-to-earnings ratio of 5.11 and a beta of 2.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a 50 day moving average price of $35.86 and a 200-day moving average price of $31.81. SilverBow Resources, Inc. has a one year low of $25.19 and a one year high of $43.95.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.84 by $0.25. The company had revenue of $256.68 million during the quarter, compared to analyst estimates of $272.27 million. SilverBow Resources had a net margin of 24.41% and a return on equity of 16.48%. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities analysts expect that SilverBow Resources, Inc. will post 8.64 EPS for the current year.

SilverBow Resources 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.