SilverBow Resources Inc. (SBOW) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SilverBow Resources Inc. (NYSE:SBOW) from a sell rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Other equities research analysts have also issued research reports about the company. BidaskClub raised SilverBow Resources from a sell rating to a hold rating in a research report on Thursday, September 28th. Seaport Global Securities started coverage on SilverBow Resources in a research report on Tuesday, August 1st. They issued a neutral rating and a $25.00 target price on the stock. Northland Securities started coverage on SilverBow Resources in a research report on Thursday, September 28th. They issued an outperform rating and a $42.00 target price on the stock. Finally, Stephens started coverage on SilverBow Resources in a research report on Friday, September 29th. They issued an overweight rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $31.67.

Shares of SilverBow Resources (NYSE SBOW) opened at $23.05 on Friday. SilverBow Resources has a 1 year low of $19.89 and a 1 year high of $35.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

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In related news, CEO Sean C. Woolverton purchased 1,119 shares of the stock in a transaction on Monday, October 16th. The shares were purchased at an average price of $22.86 per share, with a total value of $25,580.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sean C. Woolverton purchased 1,043 shares of the stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $24.29 per share, for a total transaction of $25,334.47. Following the transaction, the chief executive officer now directly owns 64,847 shares in the company, valued at $1,575,133.63. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,448 shares of company stock worth $102,408.

Several large investors have recently bought and sold shares of SBOW. Nationwide Fund Advisors acquired a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $104,000. SG Americas Securities LLC acquired a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $148,000. The Manufacturers Life Insurance Company acquired a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $157,000. New York State Common Retirement Fund acquired a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $196,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $229,000. 29.95% of the stock is currently owned by hedge funds and other institutional investors.

SilverBow Resources Company Profile

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