Mesirow Financial Investment Management Inc. Sells 2,057 Shares of SilverBow Resources, Inc. (NYSE:SBOW)

Mesirow Financial Investment Management Inc. trimmed its stake in shares of SilverBow Resources, Inc. (NYSE:SBOW) by 23.3% in the first quarter, HoldingsChannel.com reports. The fund owned 6,776 shares of the company’s stock after selling 2,057 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in SilverBow Resources were worth $231,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SBOW. Kore Advisors LP acquired a new position in shares of SilverBow Resources during the 4th quarter worth $9,366,000. Goldman Sachs Group Inc. raised its stake in SilverBow Resources by 108.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 582,373 shares of the company’s stock worth $16,935,000 after acquiring an additional 302,413 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of SilverBow Resources in the third quarter worth about $7,659,000. Assenagon Asset Management S.A. lifted its holdings in shares of SilverBow Resources by 120.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 280,240 shares of the company’s stock worth $8,149,000 after acquiring an additional 152,987 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of SilverBow Resources by 18.7% in the 3rd quarter. Vanguard Group Inc. now owns 909,694 shares of the company’s stock valued at $32,540,000 after purchasing an additional 143,071 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

SilverBow Resources Trading Up 1.9 %

NYSE:SBOW traded up $0.72 during mid-day trading on Wednesday, hitting $38.74. 234,855 shares of the company’s stock were exchanged, compared to its average volume of 509,712. 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, Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $43.95. The company has a 50 day simple moving average of $36.16 and a 200-day simple moving average of $32.00. The firm has a market capitalization of $989.42 million, a P/E ratio of 5.24 and a beta of 2.58.

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

Insider Buying and Selling at SilverBow Resources

In other SilverBow Resources news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,181,356 shares of the company’s stock, valued at approximately $43,710,172. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

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