Prudential Financial Inc. Sells 1,258,146 Shares of Southwestern Energy Co. (SWN)
Prudential Financial Inc. reduced its stake in shares of Southwestern Energy Co. (NYSE:SWN) by 65.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 675,020 shares of the energy company’s stock after selling 1,258,146 shares during the period. Prudential Financial Inc. owned about 0.17% of Southwestern Energy worth $8,492,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Zurich Insurance Group Ltd FI acquired a new stake in Southwestern Energy during the first quarter valued at about $1,595,000. Geode Capital Management LLC raised its stake in Southwestern Energy by 3.9% in the first quarter. Geode Capital Management LLC now owns 3,175,453 shares of the energy company’s stock valued at $25,573,000 after buying an additional 117,987 shares in the last quarter. Babson Capital Management LLC acquired a new stake in Southwestern Energy during the first quarter valued at about $1,106,000. Seven Bridges Advisors LLC acquired a new stake in Southwestern Energy during the second quarter valued at about $214,000. Finally, Creative Planning raised its stake in Southwestern Energy by 50.6% in the second quarter. Creative Planning now owns 37,206 shares of the energy company’s stock valued at $468,000 after buying an additional 12,501 shares in the last quarter. Institutional investors own 98.78% of the company’s stock.
Shares of Southwestern Energy Co. (NYSE:SWN) traded down 1.2814% on Friday, reaching $13.8897. 2,775,723 shares of the company’s stock were exchanged. The company’s market capitalization is $5.39 billion. Southwestern Energy Co. has a 12 month low of $5.00 and a 12 month high of $15.59. The firm’s 50 day moving average price is $14.05 and its 200-day moving average price is $12.72.
Southwestern Energy (NYSE:SWN) last issued its earnings results on Friday, July 22nd. The energy company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $522 million for the quarter, compared to the consensus estimate of $517.49 million. Southwestern Energy had a negative return on equity of 1.99% and a negative net margin of 220.65%. On average, equities analysts anticipate that Southwestern Energy Co. will post $0.04 EPS for the current year.
SWN has been the subject of several research analyst reports. Zacks Investment Research raised Southwestern Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, July 26th. KLR Group lifted their price target on Southwestern Energy from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Monday, June 13th. Jefferies Group reaffirmed a “sell” rating on shares of Southwestern Energy in a research note on Thursday, June 30th. Nomura reaffirmed a “hold” rating and set a $13.00 price target on shares of Southwestern Energy in a research note on Tuesday, July 5th. Finally, Tudor Pickering raised Southwestern Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 29th. Five analysts have rated the stock with a sell rating, twenty-three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Southwestern Energy presently has an average rating of “Hold” and an average price target of $12.66.
In other news, Director Gregory D. Kerley sold 12,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $14.34, for a total value of $172,080.00. Following the transaction, the director now owns 312,064 shares in the company, valued at approximately $4,474,997.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is owned by insiders.
About Southwestern Energy
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production. The Company operates through two segments: Exploration and Production (E&P) and Midstream Services. Its operations are focused on the development of unconventional natural gas reservoirs located in Pennsylvania, West Virginia and Arkansas.
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