SWN Southwestern Energy

Southwestern Energy Co. is a holding company, which engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs). It operates through the Exploration and Production (E&P); and Marketing segments. The E&P segment includes operations in northeast Pennsylvania, West Virginia, and southwest Pennsylvania, The Marketing segment deals in the marketing and transportation of natural gas, oil and NGLs primarily produced in E&P. The company was founded on July 2, 1929 and is headquartered in Spring, TX.
Company profile
Ticker
SWN
Exchange
Website
CEO
William Way
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
710205415
SWN stock data
()
News
Morgan Stanley Maintains Equal-Weight on Southwestern Energy, Raises Price Target to $5
19 Apr 21
44 Biggest Movers From Yesterday
9 Apr 21
25 Stocks Moving In Thursday's Mid-Day Session
8 Apr 21
Stocks That Hit 52-Week Highs On Monday
22 Mar 21
Morgan Stanley Maintains Equal-Weight on Southwestern Energy, Raises Price Target to $4.5
11 Mar 21
Press releases
Southwestern Energy Schedules First Quarter Conference Call for April 30, 2021
12 Apr 21
Southwestern Energy Co. to Host Earnings Call
26 Feb 21
Southwestern Energy Announces Fourth Quarter and Full Year 2020 Results; Provides 2021 Guidance
25 Feb 21
Southwestern Energy Schedules Fourth Quarter Conference Call for February 26, 2021
2 Feb 21
Calendar
1 Mar 21
22 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 13M | 13M | 13M | 13M | 13M | 13M |
Cash burn (monthly) | 27.33M | (positive/no burn) | 81.33M | 239.25M | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 102.31M | n/a | 304.44M | 895.54M | n/a | n/a |
Cash remaining | -89.31M | n/a | -291.44M | -882.54M | n/a | n/a |
Runway (months of cash) | -3.3 | n/a | -3.6 | -3.7 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
11 Mar 21 | Andrew T Huggins | RSU Common Stock | Grant | Aquire A | No | No | 0 | 33,937 | 0 | 33,937 |
27 Feb 21 | Michael E Hancock | Common Stock | Payment of exercise | Dispose F | No | No | 4.05 | 2,196 | 8.89K | 26,971 |
27 Feb 21 | Michael E Hancock | Common Stock | Option exercise | Aquire M | No | No | 0 | 9,015 | 0 | 29,167 |
27 Feb 21 | Michael E Hancock | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 9,015 | 0 | 9,015 |
27 Feb 21 | William J Way | Common Stock | Payment of exercise | Dispose F | No | No | 4.05 | 117,983 | 477.83K | 1,855,791 |
27 Feb 21 | William J Way | Common Stock | Grant | Aquire A | No | No | 0 | 484,525 | 0 | 1,973,774 |
27 Feb 21 | William J Way | Common Stock | Payment of exercise | Dispose F | No | No | 4.05 | 76,265 | 308.87K | 1,489,249 |
27 Feb 21 | William J Way | Common Stock | Option exercise | Aquire M | No | No | 0 | 193,810 | 0 | 1,565,514 |
27 Feb 21 | William J Way | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 193,810 | 0 | 193,810 |
27 Feb 21 | Clayton A. Carrell | Common Stock | Payment of exercise | Dispose F | No | No | 4.05 | 58,535 | 237.07K | 551,582 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
88.2% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 300 |
Opened positions | 66 |
Closed positions | 30 |
Increased positions | 100 |
Reduced positions | 76 |
13F shares |
Current |
---|---|
Total value | 1.78B |
Total shares | 597.22M |
Total puts | 3.69M |
Total calls | 3.72M |
Total put/call ratio | 1.0 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 100.02M | $298.05M |
FMR | 87.02M | $259.32M |
Vanguard | 72.53M | $216.14M |
STT State Street | 35.86M | $106.88M |
Dimensional Fund Advisors | 35.42M | $105.54M |
Disciplined Growth Investors | 29.06M | $86.6M |
Kopernik Global Investors | 24.19M | $72.09M |
EnCap Energy Capital Fund IX | 13.76M | $41.02M |
Primecap Management | 11.01M | $32.8M |
Russell Investments | 10.66M | $31.8M |
Financial report summary
?Risks
- Natural gas, oil and NGL prices greatly affect our revenues and thus profits, liquidity, growth, ability to repay our debt and the value of our assets.
- Significant capital investment is required to replace our reserves and conduct our business.
- Our business depends on access to natural gas, oil and NGL transportation systems and facilities. Our commitments to assure availability of transportation could lead to substantial payments for capacity we do not use if production falls below projected levels.
- Strategic determinations, including the allocation of capital and other resources to strategic opportunities, are challenging in the face of shifting market conditions, and our failure to appropriately allocate capital and resources among our strategic opportunities may adversely affect our financial condition and reduce our future growth rate.
- Certain of our undeveloped assets are subject to leases that will expire over the next several years unless production is established on units containing the acreage.
- Natural gas and oil drilling and producing and transportation operations can be hazardous and may expose us to liabilities.
- Our business depends on the availability of water and the ability to dispose of water. Limitations or restrictions on our ability to obtain or dispose of water may have an adverse effect on our financial condition, results of operations and cash flows.
- Our producing properties are concentrated in the Appalachian basin, making us vulnerable to risks associated with operating in limited geographic areas.
- Competition in the oil and natural gas industry is intense, making it more difficult for us to market natural gas, oil and NGLs, to secure trained personnel and appropriate services, to obtain additional properties and to raise capital.
- We may be unable to dispose of assets on attractive terms, and may be required to retain liabilities for certain matters.
- Certain U.S. federal income tax deductions currently available with respect to oil and natural gas exploration and production may be eliminated as a result of future legislation.
- We may experience adverse or unforeseen tax consequences due to further developments affecting our deferred tax assets that could significantly affect our results.
- A cyber incident could result in information theft, data corruption, operational disruption and/or financial loss.
- Terrorist activities could materially and adversely affect our business and results of operations.
- The widespread outbreak of an illness, pandemic (such as COVID-19) or any other public health crisis may have material adverse effects on our financial position, results of operations or cash flows.
- Negative public perception regarding us and/or our industry could have an adverse effect on our operations.
- Judicial decisions can affect our rights and obligations.
- Common stockholders will be diluted if additional shares are issued.
- Anti-takeover provisions in our organizational documents and under Delaware law may impede or discourage a takeover, which could cause the market price of our common stock to decline.
- A downgrade in our credit rating could negatively impact our cost of and ability to access capital and our liquidity.
- Any significant reduction in the borrowing base under our revolving credit facility may negatively impact our ability to fund our operations, and we may not have sufficient funds to repay borrowings under our revolving credit facility if required as a result of a borrowing base redetermination.
- Our ability to comply with the covenants and other restrictions in our financing agreements may be affected by events beyond our control, including prevailing economic and financial conditions.
- Climate change legislation or regulations governing the emissions of greenhouse gases could result in increased operating costs and reduce demand for the natural gas, oil and NGLs we produce, and concern in financial and investment markets over greenhouse gasses and fossil fuel production could adversely affect our access to capital and the price of our common stock.
- Market views of our industry generally can affect our stock price.
- Volatility in the financial markets or in global economic factors could adversely impact our business and financial condition.
- Our commodity price risk management and measurement systems and economic hedging activities might not be effective and could increase the volatility of our results.
- The implementation of derivatives legislation could have an adverse effect on our ability to use derivative instruments to reduce the effect of commodity price, interest rate and other risks associated with our business.
- Southwestern may not achieve the anticipated benefits of the Merger, and the Merger may disrupt its current plans or operations.
Management Discussion
- ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
- Management’s Discussion and Analysis is the Company’s analysis of its financial performance and of significant trends that may affect future performance. It should be read in conjunction with the financial statements and notes, and supplemental oil and gas disclosures included elsewhere in this report. It contains forward-looking statements including, without limitation, statements relating to the Company’s plans, strategies, objectives, expectations and intentions that are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In many cases you can identify forward-looking statements by words such as “anticipate,” “intend,” “plan,” “project,” “estimate,” “continue,” “potential,” “should,” “could,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “expect,” “believe,” “predict,” “budget,” “projection,” “goal,” “forecast,” “target” or similar words. Unless required to do so under the federal securities laws, the Company does not undertake to update, revise or correct any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that such forward-looking statements should be read in conjunction with the Company’s disclosures under the heading: “Cautionary Statement about Forward-Looking Statements.”
- Southwestern Energy Company (including its subsidiaries, collectively, “we,” “our,” “us,” “the Company” or “Southwestern”) is an independent energy company engaged in natural gas, oil and NGLs exploration, development and production, which we refer to as “E&P.” We are also focused on creating and capturing additional value through our marketing business, which we call “Marketing”. We conduct most of our businesses through subsidiaries, and we currently operate exclusively in the lower 48 United States.
Content analysis
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H.S. sophomore Avg
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New words:
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Removed:
adherence, aircraft, al, Ale, appeal, appealed, argument, authorization, breach, Cecil, certified, chart, Chesapeake, commerce, commonly, comparability, concurrent, conspiracy, Continental, Conway, David, denying, Devon, disclosing, dismissed, Dutch, Eastern, emerging, enrichment, EQT, exchanged, expecting, favor, Flom, graph, Head, informed, instrument, intervene, Jennifer, jury, Lazard, marketplace, McCauley, Meagher, modification, Occidental, officially, oral, partial, precision, profile, PVI, reenter, reinvested, returned, Royal, sandridge, SEECO, shell, Skadden, Slate, SM, sought, supplement, Supplementary, tariff, taxation, Trump, unavailability, unclear, underpaid, unjust, unobservable, verdict, windfall, withdraw, WPX
Financial reports
10-K
2020 FY
Annual report
1 Mar 21
10-Q
2020 Q3
Quarterly report
29 Oct 20
10-Q
2020 Q2
Quarterly report
31 Jul 20
10-Q
2020 Q1
Quarterly report
30 Apr 20
10-K
2019 FY
Annual report
26 Feb 20
10-Q
2019 Q3
Quarterly report
24 Oct 19
10-Q
2019 Q2
Quarterly report
6 Aug 19
10-Q
2019 Q1
Quarterly report
25 Apr 19
10-K
2018 FY
Annual report
28 Feb 19
10-Q
2018 Q3
Quarterly report
25 Oct 18
Current reports
8-K
Southwestern Energy Announces Fourth Quarter and Full Year 2020 Results; Provides 2021 Guidance
25 Feb 21
8-K/A
Financial Statements and Exhibits
22 Jan 21
8-K
Southwestern Energy Issues Statement on Untimely Passing of Julian Bott
4 Jan 21
8-K
Southwestern Energy Completes Acquisition of Montage Resources
13 Nov 20
8-K
Other Events
4 Nov 20
8-K
Southwestern Energy Announces Third Quarter 2020 Results
29 Oct 20
8-K
Entry into a Material Definitive Agreement
8 Oct 20
8-K
Southwestern Energy Announces Closing of Public Offering of $350 Million of Senior Notes
26 Aug 20
8-K
Departure of Directors or Certain Officers
20 Aug 20
8-K
Entry into a Material Definitive Agreement
20 Aug 20
Registration and prospectus
POS AM
Prospectus update (post-effective amendment)
20 Nov 20
S-8 POS
Registration of securities for employees (post-effective amendment)
13 Nov 20
425
Business combination disclosure
12 Nov 20
425
Business combination disclosure
5 Nov 20
424B3
Prospectus supplement
6 Oct 20
S-4/A
Registration of securities issued in business combination transactions (amended)
2 Oct 20
S-4
Registration of securities issued in business combination transactions
15 Sep 20
424B5
Prospectus supplement for primary offering
20 Aug 20
FWP
Free writing prospectus
18 Aug 20
424B5
Prospectus supplement for primary offering
18 Aug 20
Proxies
DEFA14A
Additional proxy soliciting materials
8 Apr 21
DEF 14A
Definitive proxy
8 Apr 21
DEFA14A
Additional proxy soliciting materials
5 May 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEF 14A
Definitive proxy
9 Apr 20
DEFA14A
Additional proxy soliciting materials
11 Apr 19
DEF 14A
Definitive proxy
11 Apr 19
DEF 14A
Definitive proxy
11 Apr 18
DEFA14A
Additional proxy soliciting materials
11 Apr 18
DEF 14A
Definitive proxy
11 Apr 17
Other
EFFECT
Notice of effectiveness
25 Nov 20
EFFECT
Notice of effectiveness
7 Oct 20
CORRESP
Correspondence with SEC
4 Oct 20
UPLOAD
Letter from SEC
23 Sep 20
UPLOAD
Letter from SEC
27 Aug 15
CORRESP
Correspondence with SEC
17 Jun 15
UPLOAD
Letter from SEC
7 Jun 15
UPLOAD
Letter from SEC
12 Aug 14
CORRESP
Correspondence with SEC
4 Aug 14
CORRESP
Correspondence with SEC
21 Jul 14
Ownership
4
SOUTHWESTERN ENERGY / Andrew T Huggins ownership change
15 Mar 21
4
SOUTHWESTERN ENERGY / William Q Dyson ownership change
3 Mar 21
4
SOUTHWESTERN ENERGY / John P Kelly ownership change
3 Mar 21
4
SOUTHWESTERN ENERGY / Derek W Cutright ownership change
3 Mar 21
4
SOUTHWESTERN ENERGY / Andrew T Huggins ownership change
3 Mar 21
3
SOUTHWESTERN ENERGY / Andrew T Huggins ownership change
3 Mar 21
3
SOUTHWESTERN ENERGY / John P Kelly ownership change
3 Mar 21
3
SOUTHWESTERN ENERGY / Derek W Cutright ownership change
3 Mar 21
3
SOUTHWESTERN ENERGY / William Q Dyson ownership change
3 Mar 21
4
SOUTHWESTERN ENERGY / Michael E Hancock ownership change
2 Mar 21
Patents
GRANT
Utility
NMR sequential fluid characterization
26 Jan 21
Methods and systems for determining location of hydrocarbon in unconventional plays are provided.
APP
Utility
NMR Sequential Fluid Characterization
19 Aug 20
Methods and systems for determining location of hydrocarbon in unconventional plays are provided.
GRANT
Utility
Proppant and methods of using the same
20 Jan 20
Provided herein are novel proppants for use in hydraulic fracturing.
Transcripts
2020 Q4
Earnings call transcript
26 Feb 21
2020 Q3
Earnings call transcript
30 Oct 20
2020 Q2
Earnings call transcript
31 Jul 20
2020 Q1
Earnings call transcript
1 May 20
2019 Q4
Earnings call transcript
28 Feb 20
2019 Q3
Earnings call transcript
25 Oct 19
2019 Q2
Earnings call transcript
7 Aug 19
2019 Q1
Earnings call transcript
26 Apr 19
2018 Q4
Earnings call transcript
1 Mar 19
2018 Q3
Earnings call transcript
26 Oct 18
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