Principal Financial Group Inc. increased its position in shares of Southwestern Energy Co. (NYSE:SWN) by 23.3% during the second quarter, Holdings Channel reports. The institutional investor owned 718,678 shares of the energy company’s stock after buying an additional 135,853 shares during the period. Principal Financial Group Inc. owned 0.19% of Southwestern Energy worth $9,041,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SWN. Brown Advisory Inc. increased its position in shares of Southwestern Energy by 2.3% in the second quarter. Brown Advisory Inc. now owns 43,141 shares of the energy company’s stock worth $543,000 after buying an additional 956 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Southwestern Energy by 136.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,409,051 shares of the energy company’s stock worth $55,485,000 after buying an additional 2,542,829 shares during the last quarter. Eaton Vance Management boosted its stake in Southwestern Energy by 37.4% in the second quarter. Eaton Vance Management now owns 110,888 shares of the energy company’s stock worth $1,395,000 after buying an additional 30,158 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Southwestern Energy by 12.1% in the second quarter. UBS Asset Management Americas Inc. now owns 995,505 shares of the energy company’s stock worth $12,524,000 after buying an additional 107,494 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its stake in Southwestern Energy by 7.6% in the second quarter. Zweig DiMenna Associates LLC now owns 341,686 shares of the energy company’s stock worth $4,298,000 after buying an additional 24,000 shares during the last quarter. Institutional investors and hedge funds own 98.77% of the company’s stock.
Shares of Southwestern Energy Co. (NYSE:SWN) opened at 12.47 on Tuesday. The stock’s 50 day moving average price is $13.91 and its 200-day moving average price is $13.03. The stock’s market cap is $4.83 billion. Southwestern Energy Co. has a 52-week low of $5.00 and a 52-week high of $15.59.
Southwestern Energy (NYSE:SWN) last announced its quarterly earnings results on Friday, July 22nd. The energy company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The company had revenue of $522 million for the quarter, compared to analyst estimates of $517.49 million. Southwestern Energy had a negative net margin of 220.65% and a negative return on equity of 1.99%. On average, analysts predict that Southwestern Energy Co. will post $0.04 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SWN shares. Vetr raised Southwestern Energy from a “hold” rating to a “strong-buy” rating and set a $14.64 price objective for the company in a research report on Monday, June 20th. Tudor Pickering raised Southwestern Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 29th. Jefferies Group raised their price objective on Southwestern Energy from $4.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 29th. Barclays PLC reissued an “underweight” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Southwestern Energy in a research report on Friday, July 1st. Finally, Bank of America Corp. reissued a “hold” rating on shares of Southwestern Energy in a research report on Thursday, June 30th. Five research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Southwestern Energy presently has a consensus rating of “Hold” and a consensus price target of $12.66.
In other Southwestern Energy news, Director Gregory D. Kerley sold 12,000 shares of Southwestern Energy stock in a transaction on Tuesday, September 20th. The shares were 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 document filed with the SEC, which can be accessed through the SEC website. 1.16% of the stock is currently owned by company 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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