SilverBow Resources (SBOW) Forecasted to Post Q1 2018 Earnings of $1.30 Per Share

SilverBow Resources (NYSE:SBOW) – Equities research analysts at SunTrust Banks issued their Q1 2018 earnings per share estimates for shares of SilverBow Resources in a note issued to investors on Tuesday, April 10th. SunTrust Banks analyst N. Dingmann expects that the company will earn $1.30 per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $37.00 target price on the stock. SunTrust Banks also issued estimates for SilverBow Resources’ Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.54 EPS, FY2018 earnings at $5.38 EPS, FY2019 earnings at $8.08 EPS and FY2020 earnings at $9.77 EPS.

SilverBow Resources (NYSE:SBOW) last posted its earnings results on Wednesday, February 28th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.51. The business had revenue of $58.69 million during the quarter, compared to the consensus estimate of $51.85 million. SilverBow Resources had a return on equity of 43.37% and a net margin of 34.82%.



Other analysts also recently issued reports about the company. Zacks Investment Research raised SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, January 10th. Seaport Global Securities raised 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. Finally, ValuEngine raised SilverBow Resources from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.40.

SBOW opened at $31.16 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.37. The company has a market cap of $364.36 and a price-to-earnings ratio of 5.13. SilverBow Resources has a 52 week low of $19.89 and a 52 week high of $33.21.

In other SilverBow Resources news, Director Marcus C. Rowland sold 7,938 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $28.74, for a total transaction of $228,138.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean C. Woolverton acquired 898 shares of SilverBow Resources stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $28.11 per share, with a total value of $25,242.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,141 shares of company stock valued at $123,409.

Several hedge funds have recently modified their holdings of SBOW. State Street Corp purchased a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $1,834,000. The Manufacturers Life Insurance Company purchased a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $157,000. California State Teachers Retirement System purchased a new position in shares of SilverBow Resources during the 2nd quarter worth approximately $337,000. Wells Fargo & Company MN raised its stake in shares of SilverBow Resources by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after buying an additional 6,628 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of SilverBow Resources during the 3rd quarter worth approximately $394,000. 67.03% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

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