Insider Selling: SilverBow Resources, Inc. (NYSE:SBOW) Major Shareholder Sells $77,700,000.00 in Stock

SilverBow Resources, Inc. (NYSE:SBOW) major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $37.00, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

SilverBow Resources Trading Down 1.5 %

Shares of SilverBow Resources stock opened at $37.06 on Thursday. SilverBow Resources, Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $43.95. 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 company has a market cap of $946.44 million, a P/E ratio of 5.01 and a beta of 2.52. The firm has a 50-day simple moving average of $35.55 and a two-hundred day simple moving average of $31.71.

SilverBow Resources (NYSE:SBOW) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.25. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. The company had revenue of $256.68 million during the quarter, compared to analysts’ expectations of $272.27 million. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities analysts predict that SilverBow Resources, Inc. will post 8.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in SilverBow Resources in the 3rd quarter worth $50,000. Allspring Global Investments Holdings LLC increased its stake in shares of SilverBow Resources by 138.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,126 shares of the company’s stock worth $91,000 after purchasing an additional 1,815 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of SilverBow Resources by 33.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,303 shares of the company’s stock worth $125,000 after purchasing an additional 1,089 shares during the last quarter. ORG Partners LLC lifted its stake in SilverBow Resources by 8,624.0% in the 4th quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock valued at $127,000 after buying an additional 4,312 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in SilverBow Resources in the 1st quarter worth about $214,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBOW has been the subject of several research analyst reports. Mizuho cut SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Truist Financial increased their price objective on shares of SilverBow Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.33.

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.