SilverBow Resources, Inc. (SBOW) Position Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 60.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,778 shares of the company’s stock after selling 19,850 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in SilverBow Resources were worth $380,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SBOW. Vanguard Group Inc. bought a new stake in SilverBow Resources during the second quarter worth approximately $4,637,000. State Street Corp bought a new stake in SilverBow Resources during the second quarter worth approximately $1,834,000. Northern Trust Corp bought a new stake in SilverBow Resources during the second quarter worth approximately $1,762,000. Goldman Sachs Group Inc. bought a new stake in SilverBow Resources during the second quarter worth approximately $1,530,000. Finally, Schneider Capital Management Corp bought a new stake in SilverBow Resources during the second quarter worth approximately $980,000. 28.06% of the stock is currently owned by hedge funds and other institutional investors.

SilverBow Resources, Inc. (SBOW) opened at $29.59 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.55. SilverBow Resources, Inc. has a 12-month low of $19.89 and a 12-month high of $33.21.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings results on Monday, November 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.21. SilverBow Resources had a net margin of 23.27% and a return on equity of 30.10%. equities analysts forecast that SilverBow Resources, Inc. will post 5.5 EPS for the current year.

Several brokerages recently commented on SBOW. Zacks Investment Research raised SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 10th. Seaport Global Securities raised SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, December 19th. Finally, BidaskClub cut SilverBow Resources from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $32.50.

In other SilverBow Resources news, insider Sean C. Woolverton purchased 1,102 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $23.54 per share, for a total transaction of $25,941.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean C. Woolverton purchased 761 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was acquired at an average price of $33.01 per share, for a total transaction of $25,120.61. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,861 shares of company stock worth $127,285.

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SilverBow Resources Profile

SilverBow Resources is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. With almost 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which they leverage to assemble drilling inventory.

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Institutional Ownership by Quarter for SilverBow Resources (NYSE:SBOW)

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