SilverBow Resources (NYSE:SBOW) Downgraded by Zacks Investment Research to Sell

SilverBow Resources (NYSE:SBOW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, December 20th.

According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “

Several other research firms have also recently commented on SBOW. BidaskClub raised shares of SilverBow Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Northland Securities assumed coverage on shares of SilverBow Resources in a report on Thursday, September 28th. They issued an “outperform” rating and a $42.00 price target on the stock. Stephens initiated coverage on shares of SilverBow Resources in a report on Friday, September 29th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Seaport Global Securities raised shares of 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. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. SilverBow Resources presently has an average rating of “Buy” and an average target price of $32.50.

Shares of SilverBow Resources (SBOW) opened at $32.82 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.50. SilverBow Resources has a 12 month low of $19.89 and a 12 month high of $33.80.

In other SilverBow Resources news, insider Sean C. Woolverton purchased 1,102 shares of the business’s stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $23.54 per share, for a total transaction of $25,941.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean C. Woolverton acquired 1,119 shares of the stock in a transaction dated Monday, October 16th. The shares were purchased at an average cost of $22.86 per share, with a total value of $25,580.34. The disclosure for this purchase can be found here. Insiders purchased 5,450 shares of company stock valued at $127,712 over the last quarter.

A number of hedge funds have recently added to or reduced their stakes in the stock. Pentwater Capital Management LP bought a new position in SilverBow Resources in the second quarter worth about $15,114,000. Wells Fargo & Company MN grew its holdings in SilverBow Resources by 2.3% in the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after purchasing an additional 6,628 shares during the period. Vanguard Group Inc. purchased a new stake in SilverBow Resources in the second quarter worth about $4,637,000. State Street Corp purchased a new stake in SilverBow Resources in the second quarter worth about $1,834,000. Finally, Northern Trust Corp purchased a new stake in SilverBow Resources in the second quarter worth about $1,762,000. 30.06% of the stock is owned by institutional investors.

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