Retirement Systems of Alabama lowered its holdings in shares of Southwestern Energy (NYSE:SWN – Free Report) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,441,955 shares of the energy company’s stock after selling 12,595 shares during the period. Retirement Systems of Alabama owned 0.13% of Southwestern Energy worth $7,210,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Southwestern Energy by 269.1% in the 1st quarter. Invesco Ltd. now owns 13,958,070 shares of the energy company’s stock worth $100,079,000 after acquiring an additional 10,175,992 shares during the period. State Street Corp lifted its stake in shares of Southwestern Energy by 21.5% in the 1st quarter. State Street Corp now owns 55,933,972 shares of the energy company’s stock worth $401,047,000 after acquiring an additional 9,882,224 shares during the period. Vanguard Group Inc. lifted its stake in shares of Southwestern Energy by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 128,222,158 shares of the energy company’s stock worth $919,352,000 after acquiring an additional 9,410,861 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Southwestern Energy by 979.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,358,637 shares of the energy company’s stock worth $36,793,000 after acquiring an additional 6,677,160 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Southwestern Energy by 173.1% in the fourth quarter. Millennium Management LLC now owns 8,224,910 shares of the energy company’s stock valued at $48,116,000 after purchasing an additional 5,213,675 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on SWN. The Goldman Sachs Group cut shares of Southwestern Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $5.75 to $5.00 in a research note on Wednesday, May 24th. Stifel Nicolaus began coverage on shares of Southwestern Energy in a research note on Thursday, June 29th. They issued a “buy” rating and a $7.50 price objective for the company. Susquehanna reduced their price objective on shares of Southwestern Energy from $7.50 to $7.00 and set a “positive” rating for the company in a research note on Friday, April 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 price objective on shares of Southwestern Energy in a research note on Wednesday, July 19th. Finally, Siebert Williams Shank started coverage on shares of Southwestern Energy in a report on Monday, April 10th. They set a “hold” rating and a $6.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.19.
Southwestern Energy Price Performance
Southwestern Energy (NYSE:SWN – Get Free Report) last released its earnings results on Friday, April 28th. The energy company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Southwestern Energy had a net margin of 45.59% and a return on equity of 41.76%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Southwestern Energy’s revenue was down 28.0% compared to the same quarter last year. Sell-side analysts predict that Southwestern Energy will post 0.64 earnings per share for the current year.
About Southwestern Energy
Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.
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