Southwestern Energy Company announced the sudden death of CFO Julian Bott, on Jan. 3, who passed away due to a non-COVID related medical condition.
For now, Southwestern Energy (SWN) has appointed its VP Finance, Michael Hancock, as the interim CFO.
“We have lost a well-respected business leader, advisor and mentor who will be remembered as a compelling and insightful thinker with a steady hand and warm demeanor that made him immensely successful. His presence will be deeply missed within the SWN family and across the broader industry,” said Southwestern Energy CEO Bill Way commented. (See SWN stock analysis on TipRanks)
On Dec. 1, UBS analyst Lloyd Byrne downgraded SWN to Sell from Hold and maintained a $2.40 price target, citing the stock’s valuation following the recent rally.
Instead, Byrne added would recommend Canadian Natural Resources (CNQ), EOG Resources and Ovintiv, due to their significant natural gas volume production.
From the rest of the Street, the stock scores an analyst consensus of a Hold based on 1 Buy, 8 Holds, and 1 Sell. The average analyst price target of $3.52 implies upside potential of 15% to current levels.
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