Southwestern Energy Rating Reiterated by Zacks (SWN)
Southwestern Energy (NYSE: SWN)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Monday. They currently have a $37.00 price target on the stock.
Zacks‘ analyst wrote, “We are reiterating our Neutral recommendation on Southwestern following its fourth quarter 2012 results. The low natural gas price environment is curbing its spending level, thereby restricting growth. Southwestern enjoys strong acreage positions in the Fayetteville and Marcellus shales which offer ample opportunities for newer natural gas discoveries. The company’s effort to build its New Ventures acreage outside of New Brunswick is an added positive. Brown Dense is expected to be a key play in its portfolio. However, we prefer to stay on the sidelines, considering the weak natural gas scenario in the U.S. arising from continued oversupply and low demand. Other risk factors such as technological failures and lack of a diversified asset base also add to our negative sentiment. “
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs set a $46.00 price target on shares of Southwestern Energy in a research note to investors on Monday, February 25th. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Southwestern Energy in a research note to investors on Monday, February 25th. They now have a $38.00 price target on the stock, up previously from $37.00.
Eleven equities research analysts have rated the stock with a buy rating, three have issued an overweight rating, eighteen have issued a hold rating, and two have given a sell rating to the company’s stock. The company currently has an average rating of “overweight” and a consensus price target of $38.67.
Shares of Southwestern Energy traded up 0.40% during mid-day trading on Monday, hitting $35.40. Southwestern Energy has a 52 week low of $25.63 and a 52 week high of $36.87. The stock’s 50-day moving average is currently $33.75. The company’s market cap is $12.387 billion.
Southwestern Energy last announced its earnings results on Wednesday, February 20th. The company reported $0.44 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.44. The company had revenue of $559.78 million for the quarter, compared to the consensus estimate of $712.60 million. During the same quarter last year, the company posted $0.44 earnings per share. Southwestern Energy’s revenue was up 3.9% compared to the same quarter last year. Analysts expect that Southwestern Energy will post $1.67 EPS for the current fiscal year.
Southwestern Energy Company is an independent energy company engaged in natural gas and oil exploration, development and production.
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