B.Riley FBR Remains a Buy on Southwestern Energy (SWN)

In a report released today, Rehan Rashid from B.Riley FBR maintained a Buy rating on Southwestern Energy (SWN), with a price target of $7.30. The company’s shares opened today at $4.50.

Rashid commented:

“We believe that SWN equity needs to be owned into the 4Q18 print (expected 2/21/2019) as we estimate that the company is set up well to report a beat to its current recurring EPS/CFPS consensus estimates. Importantly, we estimate that the company should report free cash flow of about $167 million or $0.29 per share for 4Q18 alone vs current consensus of $38 million or $0.07 per share and compares to current market cap of $2.6 billion. Structurally, we believe that Appalachian production growth rate, capital efficiency, and evidence of access to premium end markets will surprise positively throughout 2019. As such, we are maintaining our Buy rating and our $7.30/share 12-month price target.”

According to TipRanks.com, Rashid is ranked 0 out of 5 stars with an average return of -8.7% and a 34.0% success rate. Rashid covers the Basic Materials sector, focusing on stocks such as Continental Resources, Lonestar Resources US, and Gulfport Energy Corp.

Southwestern Energy has an analyst consensus of Hold, with a price target consensus of $5.45.

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The company has a one-year high of $6.23 and a one-year low of $3.23. Currently, Southwestern Energy has an average volume of 20.83M.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

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Southwestern Energy Co. is an independent holding company, which engages in the development and production activities including related natural gas gathering and marketing. It operates through the Exploration and Production (E&P); and Midstream Services segments.