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SilverBow Resources Inc (SBOW) receives a Buy rating from ROTH MKM

In a filing, SilverBow Resources Inc revealed its Former 10% Owner Strategic Value Partners, LLC unloaded Company’s shares for reported $68.06 million on Dec 14 ’23. In the deal valued at $26.90 per share,2,530,000 shares were sold. As a result of this transaction, Strategic Value Partners, LLC now holds 393,351 shares worth roughly $12.08 million.

Then, DeSanctis Ellen bought 2,500 shares, generating $79,025 in total proceeds. Upon buying the shares at $31.61, the Director now owns 2,500 shares.

Before that, ROWLAND MARCUS C bought 5,000 shares. SilverBow Resources Inc shares valued at $157,550 were divested by the Director at a price of $31.51 per share. As a result of the transaction, ROWLAND MARCUS C now holds 34,386 shares, worth roughly $1.06 million.

ROTH MKM initiated its SilverBow Resources Inc [SBOW] rating to a Buy in a research note published on February 12, 2024; the price target was $41. A number of analysts have revised their coverage, including Mizuho’s analysts, who began to cover the stock in early February with a ‘”a Buy”‘ rating. KeyBanc Capital Markets also remained covering SBOW and has decreased its forecast on January 11, 2024 with a “Sector weight” recommendation from previously “an Overweight” rating. Citigroup started covering the stock on December 20, 2023. It rated SBOW as “a Neutral”.

Price Performance Review of SBOW

On Tuesday, SilverBow Resources Inc [NYSE:SBOW] saw its stock fall -7.41% to $30.72. Over the last five days, the stock has gained 0.62%. SilverBow Resources Inc shares have risen nearly 5.64% since the year began. Nevertheless, the stocks have risen 28.81% over the past one year. While a 52-week high of $43.95 was reached on 03/19/24, a 52-week low of $21.08 was recorded on 01/18/24. SMA at 50 days reached $31.92, while 200 days put it at $32.70. A total of 0.42 million shares were traded, compared to the trading of 0.4 million shares in the previous session.

Levels Of Support And Resistance For SBOW Stock

The 24-hour chart illustrates a support level at 29.97, which if violated will result in even more drops to 29.22. On the upside, there is a resistance level at 32.20. A further resistance level may holdings at 33.68. The Relative Strength Index (RSI) on the 14-day chart is 43.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.29%. Stochastics %K at 46.85% indicates the stock is a holding.

The most recent change occurred on October 12, 2023 when Pickering Energy Partners began covering the stock and recommended ‘”a Neutral”‘ rating .

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