Illinois Municipal Retirement Fund purchased a new stake in Southwestern Energy (NYSE:SWN – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,257 shares of the energy company’s stock, valued at approximately $467,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SWN. Renaissance Technologies LLC boosted its holdings in Southwestern Energy by 3,154.9% in the second quarter. Renaissance Technologies LLC now owns 33,712,025 shares of the energy company’s stock valued at $210,700,000 after purchasing an additional 32,676,300 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Southwestern Energy in the second quarter valued at about $92,102,000. Millennium Management LLC raised its stake in Southwestern Energy by 29,126.9% during the second quarter. Millennium Management LLC now owns 10,866,544 shares of the energy company’s stock valued at $67,916,000 after buying an additional 10,829,364 shares in the last quarter. Invesco Ltd. raised its stake in Southwestern Energy by 269.1% during the first quarter. Invesco Ltd. now owns 13,958,070 shares of the energy company’s stock valued at $100,079,000 after buying an additional 10,175,992 shares in the last quarter. Finally, State Street Corp raised its stake in Southwestern Energy by 21.5% during the first quarter. State Street Corp now owns 55,933,972 shares of the energy company’s stock valued at $401,047,000 after buying an additional 9,882,224 shares in the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SWN shares. Citigroup cut Southwestern Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $6.50 in a research note on Wednesday, December 7th. Jefferies Financial Group started coverage on Southwestern Energy in a research note on Wednesday, October 19th. They set a “buy” rating and a $11.00 price objective on the stock. Wells Fargo & Company assumed coverage on Southwestern Energy in a research note on Tuesday. They set an “equal weight” rating on the stock. Mizuho cut Southwestern Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $9.00 in a research report on Tuesday, January 10th. Finally, Truist Financial upgraded Southwestern Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $7.00 to $11.00 in a research report on Monday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Southwestern Energy presently has a consensus rating of “Moderate Buy” and an average price target of $9.97.
Southwestern Energy Stock Performance
Southwestern Energy (NYSE:SWN – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The energy company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Southwestern Energy had a return on equity of 122.25% and a net margin of 8.98%. The firm’s quarterly revenue was up 184.2% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Research analysts forecast that Southwestern Energy will post 1.32 EPS for the current fiscal year.
Southwestern Energy Company Profile
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.
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