SilverBow Resources Inc. (NYSE:SBOW) Reaches New 12-Month Low at $24.00

SilverBow Resources Inc. (NYSE:SBOW) hit a new 52-week low on Wednesday . The company traded as low as $24.00 and last traded at $24.00, with a volume of 12,302 shares trading hands. The stock had previously closed at $24.88.

A number of brokerages recently weighed in on SBOW. Seaport Global Securities began coverage on shares of SilverBow Resources in a research note on Tuesday, August 1st. They set a “neutral” rating and a $25.00 price objective on the stock. Johnson Rice began coverage on shares of SilverBow Resources in a research note on Thursday, June 8th. They set a “buy” rating on the stock.

The company has a market cap of $251.72 million and a price-to-earnings ratio of 3.51. The firm’s 50 day moving average price is $24.57 and its 200 day moving average price is $27.24.

In other news, CEO Sean C. Woolverton purchased 924 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $27.63 per share, with a total value of $25,530.12. Following the completion of the purchase, the chief executive officer now directly owns 59,969 shares of the company’s stock, valued at approximately $1,656,943.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean C. Woolverton purchased 982 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were purchased at an average cost of $25.49 per share, for a total transaction of $25,031.18. Following the purchase, the chief executive officer now directly owns 62,698 shares of the company’s stock, valued at $1,598,172.02. The disclosure for this purchase can be found here. Insiders have bought 4,649 shares of company stock worth $126,881 in the last ninety days.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Matlinpatterson Global Advisers LLC purchased a new position in SilverBow Resources during the second quarter worth about $9,405,000. Kornitzer Capital Management Inc. KS purchased a new position in SilverBow Resources during the second quarter worth about $862,000. Spark Investment Management LLC purchased a new position in SilverBow Resources during the second quarter worth about $279,000. Northern Trust Corp purchased a new position in SilverBow Resources during the second quarter worth about $1,762,000. Finally, Citigroup Inc. purchased a new position in SilverBow Resources during the second quarter worth about $569,000. Institutional investors and hedge funds own 3.54% of the company’s stock.

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