SilverBow Resources Inc. (SBOW) Downgraded to Sell at BidaskClub

SilverBow Resources Inc. (NYSE:SBOW) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Stephens began coverage on SilverBow Resources in a research note on Friday, September 29th. They issued an “overweight” rating and a $28.00 target price on the stock. Northland Securities began coverage on SilverBow Resources in a research note on Thursday, September 28th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Seaport Global Securities began coverage on SilverBow Resources in a research note on Tuesday, August 1st. They issued a “neutral” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. SilverBow Resources has a consensus rating of “Hold” and a consensus price target of $31.67.

SilverBow Resources (SBOW) opened at 23.24 on Wednesday. The company’s 50-day moving average price is $22.77 and its 200 day moving average price is $25.21. The stock has a market capitalization of $267.86 million and a P/E ratio of 0.58. SilverBow Resources has a 52-week low of $19.89 and a 52-week high of $35.70.

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In related news, CEO Sean C. Woolverton purchased 1,043 shares of SilverBow Resources stock in a transaction on Friday, September 15th. The stock was bought at an average price of $24.29 per share, with a total value of $25,334.47. Following the completion of the transaction, the chief executive officer now directly owns 64,847 shares of the company’s stock, valued at $1,575,133.63. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sean C. Woolverton purchased 1,106 shares of SilverBow Resources stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $22.72 per share, with a total value of $25,128.32. Following the transaction, the chief executive officer now directly owns 63,804 shares of the company’s stock, valued at $1,449,626.88. The disclosure for this purchase can be found here. Insiders acquired 5,315 shares of company stock valued at $127,120 in the last ninety days.

Several large investors have recently made changes to their positions in SBOW. Pentwater Capital Management LP acquired a new stake in shares of SilverBow Resources in the second quarter worth about $15,114,000. Matlinpatterson Global Advisers LLC acquired a new stake in shares of SilverBow Resources in the second quarter worth about $9,405,000. Wells Fargo & Company MN acquired a new stake in shares of SilverBow Resources in the second quarter worth about $7,476,000. Vanguard Group Inc. acquired a new stake in shares of SilverBow Resources in the second quarter worth about $4,637,000. Finally, State Street Corp acquired a new stake in shares of SilverBow Resources in the second quarter worth about $1,834,000. 31.00% of the stock is owned by institutional investors.

SilverBow Resources Company Profile

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