Truist analyst Neal Dingmann lowered the firm’s price target on SilverBow Resources to $55 from $59 but keeps a Buy rating on the shares. The company’s free cash flow is projected to materially increase in the coming quarters as efficient operations continue on a larger more attractive asset base, the analyst tells investors in a research note. SilverBow does not yet have any shareholder returns program, but this could possibly change next year depending on the magnitude of free cash flows, Truist added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SBOW:
- SilverBow Resources sees Q4 output 353-375 MMcfe/d
- SilverBow Resources reports Q3 EPS (21c) vs. $6.29 last year
- Silverbow Resources (SBOW) Q3 Earnings Cheat Sheet
- Permian, Magnolia could be acquisition targets in energy space, Truist says
- SilverBow Resources initiated with a Neutral at Pickering Energy