SilverBow Resources (NYSE:SBOW) COO Steven W. Adam purchased 619 shares of the stock in a transaction on Friday, March 9th. The shares were purchased at an average price of $28.79 per share, with a total value of $17,821.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
SilverBow Resources (SBOW) traded up $1.83 during midday trading on Friday, reaching $29.33. 13,037 shares of the company traded hands, compared to its average volume of 38,869. SilverBow Resources has a twelve month low of $19.89 and a twelve month high of $33.21. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The firm has a market cap of $334.89 and a P/E ratio of 4.39.
SBOW has been the subject of several research analyst reports. Zacks Investment Research lowered shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Seaport Global Securities upgraded shares of SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $32.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors acquired a new stake in SilverBow Resources in the 2nd quarter valued at $104,000. Acadian Asset Management LLC purchased a new position in SilverBow Resources during the 4th quarter worth $109,000. The Manufacturers Life Insurance Company purchased a new position in SilverBow Resources during the 2nd quarter worth $157,000. Bank of Montreal Can purchased a new position in SilverBow Resources during the 4th quarter worth $158,000. Finally, New York State Common Retirement Fund purchased a new position in SilverBow Resources during the 2nd quarter worth $196,000. 67.03% of the stock is owned by institutional investors and hedge funds.
WARNING: This piece was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://ledgergazette.com/2018/03/23/silverbow-resources-inc-sbow-coo-buys-17821-01-in-stock.html.
About SilverBow Resources
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.
Receive News & Ratings for SilverBow Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SilverBow Resources and related companies with MarketBeat.com's FREE daily email newsletter.