SilverBow Resources (NYSE:SBOW) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

SilverBow Resources (NYSE:SBOW) announced its quarterly earnings data on Wednesday. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.25, Zacks reports. SilverBow Resources had a return on equity of 14.50% and a net margin of 45.64%. The business had revenue of $256.68 million during the quarter, compared to analyst estimates of $272.27 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share.

SilverBow Resources Stock Up 4.9 %

Shares of NYSE SBOW traded up $1.42 during mid-day trading on Thursday, reaching $30.59. 582,464 shares of the company traded hands, compared to its average volume of 393,165. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $780.66 million, a PE ratio of 2.54 and a beta of 2.52. The company’s fifty day moving average is $32.07 and its two-hundred day moving average is $30.68. SilverBow Resources has a fifty-two week low of $21.08 and a fifty-two week high of $43.95.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TheStreet raised SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Roth Mkm assumed coverage on SilverBow Resources in a research report on Monday, February 12th. They issued a “buy” rating and a $41.00 target price on the stock. Truist Financial dropped their target price on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. KeyCorp lowered SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 11th. Finally, Mizuho upped their target price on SilverBow Resources from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.67.

About SilverBow Resources

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.