Southwestern Energy Company (NYSE:SWN) Shares Down 1.2% Following Weak Earnings
Southwestern Energy Company (NYSE:SWN) shares traded down 1.2% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $5.36 and last traded at $5.31, with a volume of 9,549,689 shares. The stock had previously closed at $5.37.
The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $811 million during the quarter, compared to the consensus estimate of $810 million. Southwestern Energy had a positive return on equity of 27.85% and a negative net margin of 9.46%. The business’s revenue was up 55.4% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS.
A number of equities analysts have recently weighed in on the company. Citigroup Inc. dropped their price objective on Southwestern Energy from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Southwestern Energy in a research note on Friday, July 14th. Barclays PLC reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Southwestern Energy in a research note on Friday, July 7th. Cowen and Company upgraded Southwestern Energy from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, April 19th. Finally, National Securities reiterated a “buy” rating and issued a $14.00 target price on shares of Southwestern Energy in a research report on Monday, May 1st. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.65.
A number of hedge funds and other institutional investors have recently made changes to their positions in SWN. First Manhattan Co. boosted its position in shares of Southwestern Energy by 29.3% in the first quarter. First Manhattan Co. now owns 8,904 shares of the energy company’s stock valued at $123,000 after buying an additional 2,020 shares during the period. Macquarie Group Ltd. boosted its position in shares of Southwestern Energy by 25.3% in the fourth quarter. Macquarie Group Ltd. now owns 9,900 shares of the energy company’s stock valued at $107,000 after buying an additional 2,000 shares during the period. Cleararc Capital Inc. boosted its position in shares of Southwestern Energy by 2.2% in the first quarter. Cleararc Capital Inc. now owns 12,185 shares of the energy company’s stock valued at $100,000 after buying an additional 261 shares during the period. Financial Counselors Inc. purchased a new position in shares of Southwestern Energy during the first quarter valued at about $101,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Southwestern Energy during the first quarter valued at about $102,000. 92.99% of the stock is currently owned by institutional investors.
The stock has a 50-day moving average of $5.90 and a 200 day moving average of $7.33. The stock’s market cap is $2.61 billion.
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About Southwestern Energy
Southwestern Energy Company is an 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 in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale.
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