Foundry Partners LLC Acquires 31,355 Shares of SilverBow Resources, Inc. (NYSE:SBOW)

Foundry Partners LLC raised its stake in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 26.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 150,965 shares of the company’s stock after purchasing an additional 31,355 shares during the period. Foundry Partners LLC owned approximately 0.59% of SilverBow Resources worth $5,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 1,815 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in SilverBow Resources by 134.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 3,268 shares of the company’s stock valued at $93,000 after purchasing an additional 1,877 shares during the period. ORG Partners LLC increased its position in SilverBow Resources by 8,624.0% in the fourth quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock worth $127,000 after buying an additional 4,312 shares during the last quarter. CoreCommodity Management LLC bought a new stake in shares of SilverBow Resources in the fourth quarter valued at $241,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in SilverBow Resources in the 4th quarter valued at about $291,000. 91.83% of the stock is owned by institutional investors.

Insider Activity at SilverBow Resources

In other SilverBow Resources news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 1,181,356 shares in the company, valued at approximately $43,710,172. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.

SilverBow Resources Price Performance

Shares of SBOW stock traded down $0.51 during trading hours on Thursday, reaching $38.23. The stock had a trading volume of 321,836 shares, compared to its average volume of 499,524. The stock’s fifty day simple moving average is $37.61 and its 200 day simple moving average is $32.72. The firm has a market capitalization of $976.39 million, a PE ratio of 5.24 and a beta of 2.58. SilverBow Resources, Inc. has a 12 month low of $25.19 and a 12 month high of $43.95. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.84 by $0.25. The firm had revenue of $256.68 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.95 EPS. On average, equities research analysts predict that SilverBow Resources, Inc. will post 8.64 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.