Absolute Gestao de Investimentos Ltda. Buys 4,688,626 Shares of Southwestern Energy (NYSE:SWN)

Absolute Gestao de Investimentos Ltda. boosted its stake in Southwestern Energy (NYSE:SWN) by 267.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,438,626 shares of the energy company’s stock after purchasing an additional 4,688,626 shares during the period. Southwestern Energy comprises approximately 22.4% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its largest position. Absolute Gestao de Investimentos Ltda. owned 0.58% of Southwestern Energy worth $43,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fruth Investment Management grew its holdings in shares of Southwestern Energy by 14.4% in the first quarter. Fruth Investment Management now owns 12,236 shares of the energy company’s stock valued at $92,000 after purchasing an additional 1,536 shares in the last quarter. Joule Financial LLC raised its stake in shares of Southwestern Energy by 3.4% in the second quarter. Joule Financial LLC now owns 55,421 shares of the energy company’s stock valued at $373,000 after acquiring an additional 1,806 shares in the last quarter. Confluence Investment Management LLC boosted its holdings in Southwestern Energy by 2.1% in the second quarter. Confluence Investment Management LLC now owns 88,912 shares of the energy company’s stock valued at $598,000 after purchasing an additional 1,825 shares during the period. TD Asset Management Inc grew its stake in Southwestern Energy by 0.4% during the 2nd quarter. TD Asset Management Inc now owns 590,130 shares of the energy company’s stock worth $3,972,000 after purchasing an additional 2,130 shares in the last quarter. Finally, CWM LLC grew its stake in Southwestern Energy by 17.8% during the 1st quarter. CWM LLC now owns 15,136 shares of the energy company’s stock worth $115,000 after purchasing an additional 2,289 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Southwestern Energy Price Performance

Southwestern Energy stock opened at $6.88 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.53. Southwestern Energy has a fifty-two week low of $5.85 and a fifty-two week high of $7.80. The stock has a 50-day simple moving average of $6.32 and a 200-day simple moving average of $6.91.

Southwestern Energy (NYSE:SWN) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Southwestern Energy had a positive return on equity of 10.55% and a negative net margin of 48.91%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s revenue was down 14.7% compared to the same quarter last year. As a group, research analysts forecast that Southwestern Energy will post 0.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SWN shares. Wolfe Research began coverage on Southwestern Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group dropped their price objective on shares of Southwestern Energy from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Scotiabank decreased their price objective on shares of Southwestern Energy from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Susquehanna dropped their target price on Southwestern Energy from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, Piper Sandler cut their price target on Southwestern Energy from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Southwestern Energy currently has a consensus rating of “Hold” and a consensus target price of $8.56.

About Southwestern Energy

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.