Jagged Peak Energy (NYSE:JAG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $16.00 price target on the mining company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 18.26% from the company’s current price.
According to Zacks, “Jagged Peak Energy Inc. is an oil and natural gas company. It focused 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. Jagged Peak Energy Inc. is based in Denver, United States. “
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Jagged Peak Energy from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 10th. KLR Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Jagged Peak Energy in a research report on Monday, August 20th. BMO Capital Markets set a $16.00 price target on shares of Jagged Peak Energy and gave the company a “buy” rating in a research report on Sunday, August 12th. Barclays initiated 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 target on the stock. Finally, ValuEngine raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.18.
Shares of Jagged Peak Energy stock opened at $13.53 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. Jagged Peak Energy has a twelve month low of $10.55 and a twelve month high of $16.55. The firm has a market capitalization of $2.95 billion, a P/E ratio of 52.04 and a beta of -1.20.
Jagged Peak Energy (NYSE:JAG) last issued its quarterly earnings data on Thursday, August 9th. The mining company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $140.36 million. Jagged Peak Energy had a net margin of 0.70% and a return on equity of 14.55%. Jagged Peak Energy’s revenue for the quarter was up 198.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, sell-side analysts predict that Jagged Peak Energy will post 0.31 earnings per share for the current fiscal year.
In other news, EVP Christopher Humber sold 25,000 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $14.12, for a total transaction of $353,000.00. Following the transaction, the executive vice president now owns 84,551 shares of the company’s stock, valued at approximately $1,193,860.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert William Howard sold 31,250 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $13.11, for a total transaction of $409,687.50. Following the transaction, the chief financial officer now directly owns 2,074,173 shares in the company, valued at approximately $27,192,408.03. The disclosure for this sale can be found here. Insiders have sold a total of 103,125 shares of company stock worth $1,396,281 in the last three months. Insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of JAG. Boston Partners raised its holdings in shares of Jagged Peak Energy by 67.0% in the 2nd quarter. Boston Partners now owns 10,714,424 shares of the mining company’s stock worth $139,502,000 after acquiring an additional 4,299,224 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Jagged Peak Energy in the 2nd quarter worth about $32,913,000. BlackRock Inc. raised its holdings in shares of Jagged Peak Energy by 15.5% in the 2nd quarter. BlackRock Inc. now owns 3,797,380 shares of the mining company’s stock worth $49,441,000 after acquiring an additional 510,513 shares during the last quarter. Cambiar Investors LLC acquired a new stake in shares of Jagged Peak Energy in the 2nd quarter worth about $5,390,000. Finally, Nikko Asset Management Americas Inc. acquired a new stake in shares of Jagged Peak Energy in the 2nd quarter worth about $5,298,000. Institutional investors own 33.63% of the company’s stock.
About Jagged Peak Energy
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.
Featured Story: Cash Flow
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jagged Peak Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jagged Peak Energy and related companies with MarketBeat.com's FREE daily email newsletter.