SilverBow Resources Expected to Post Q1 2018 Earnings of $1.32 Per Share (SBOW)

SilverBow Resources (NYSE:SBOW) – Equities researchers at SunTrust Banks lifted their Q1 2018 earnings per share estimates for shares of SilverBow Resources in a note issued to investors on Tuesday, April 17th. SunTrust Banks analyst N. Dingmann now anticipates that the company will earn $1.32 per share for the quarter, up from their prior forecast of $1.30. SunTrust Banks currently has a “Buy” rating and a $37.00 price target on the stock. SunTrust Banks also issued estimates for SilverBow Resources’ Q2 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $5.48 EPS and FY2019 earnings at $8.21 EPS.

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A number of other analysts have also issued reports on the company. Zacks Investment Research lowered SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. ValuEngine raised SilverBow Resources from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. SilverBow Resources currently has a consensus rating of “Buy” and a consensus price target of $33.40.

NYSE:SBOW opened at $33.13 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.56. SilverBow Resources has a 12 month low of $19.89 and a 12 month high of $33.91. The stock has a market capitalization of $369.23 and a price-to-earnings ratio of 5.50.

SilverBow Resources (NYSE:SBOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.49 by $0.51. SilverBow Resources had a return on equity of 43.37% and a net margin of 34.82%. The company had revenue of $58.69 million for the quarter, compared to analyst estimates of $51.85 million.

A number of hedge funds have recently modified their holdings of the business. Strategic Value Partners LLC acquired a new position in SilverBow Resources in the fourth quarter valued at approximately $133,040,000. Pentwater Capital Management LP boosted its stake in SilverBow Resources by 48.7% in the fourth quarter. Pentwater Capital Management LP now owns 805,223 shares of the company’s stock valued at $23,931,000 after acquiring an additional 263,555 shares during the period. Wells Fargo & Company MN boosted its stake in SilverBow Resources by 2.3% in the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock valued at $7,178,000 after acquiring an additional 6,628 shares during the period. Bank of New York Mellon Corp boosted its stake in SilverBow Resources by 269.1% in the fourth quarter. Bank of New York Mellon Corp now owns 84,634 shares of the company’s stock valued at $2,516,000 after acquiring an additional 61,706 shares during the period. Finally, State Street Corp acquired a new position in SilverBow Resources in the second quarter valued at approximately $1,834,000. Institutional investors own 67.09% of the company’s stock.

In other SilverBow Resources news, Director Marcus C. Rowland sold 7,938 shares of SilverBow Resources stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $28.74, for a total value of $228,138.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marcus C. Rowland sold 4,062 shares of SilverBow Resources stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $28.52, for a total value of $115,848.24. The disclosure for this sale can be found here. Insiders purchased 3,380 shares of company stock valued at $98,289 over the last quarter. Insiders own 2.40% of the company’s stock.

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SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

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