MKM Partners began coverage on shares of Jagged Peak Energy (NYSE:JAG) in a report released on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $15.00 price target on the mining company’s stock. MKM Partners’ price target indicates a potential upside of 35.62% from the stock’s current price.
A number of other research firms have also recently issued reports on JAG. ValuEngine cut shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Cowen started coverage on shares of Jagged Peak Energy in a research report on Thursday, November 29th. They set a “market perform” rating for the company. Barclays started coverage on shares of Jagged Peak Energy in a research report on Wednesday, August 29th. They set an “equal weight” rating and a $15.00 price objective for the company. Credit Suisse Group upped their price objective on shares of Jagged Peak Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Finally, KLR Group reiterated a “buy” rating and set a $19.00 price objective on shares of Jagged Peak Energy in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.04.
JAG stock opened at $11.06 on Wednesday. The company has a market cap of $2.50 billion, a P/E ratio of 42.54 and a beta of -0.15. Jagged Peak Energy has a 1 year low of $10.55 and a 1 year high of $16.55. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.64.
Jagged Peak Energy (NYSE:JAG) last released its quarterly earnings data on Friday, November 9th. The mining company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The business had revenue of $155.40 million during the quarter, compared to analysts’ expectations of $144.71 million. Jagged Peak Energy had a negative net margin of 1.48% and a positive return on equity of 17.35%. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. As a group, research analysts expect that Jagged Peak Energy will post 0.4 earnings per share for the current fiscal year.
In other Jagged Peak Energy news, EVP Christopher Humber sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $14.12, for a total value of $353,000.00. Following the completion of the transaction, the executive vice president now directly owns 84,551 shares in the company, valued at approximately $1,193,860.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Robert William Howard sold 31,250 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $13.19, for a total transaction of $412,187.50. Following the completion of the transaction, the chief financial officer now owns 2,042,923 shares of the company’s stock, valued at $26,946,154.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,500 shares of company stock valued at $1,202,063. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in JAG. Boston Partners increased its position in Jagged Peak Energy by 67.0% in the 2nd quarter. Boston Partners now owns 10,714,424 shares of the mining company’s stock valued at $139,502,000 after acquiring an additional 4,299,224 shares during the period. Janus Henderson Group PLC acquired a new position in Jagged Peak Energy in the 2nd quarter valued at approximately $32,913,000. Marshall Wace LLP acquired a new position in Jagged Peak Energy in the 3rd quarter valued at approximately $13,888,000. BlackRock Inc. increased its position in Jagged Peak Energy by 15.4% in the 3rd quarter. BlackRock Inc. now owns 4,383,358 shares of the mining company’s stock valued at $60,621,000 after acquiring an additional 585,978 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Jagged Peak Energy by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,856,754 shares of the mining company’s stock valued at $67,168,000 after purchasing an additional 361,484 shares during the last quarter. Hedge funds and other institutional investors own 28.84% of the company’s stock.
Jagged Peak Energy Company Profile
Jagged Peak Energy Inc operates as an independent oil and natural gas company. The company focuses on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware basin, a sub-basin of the Permian basin of West Texas. As of December 31, 2016, it held an 86% average working interest in approximately 75,200 net acres with an estimated net proved reserves of 82,358 thousand barrel of oil equivalent, as well as owned a 94% average working interest in 94 net productive wells.
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