Jagged Peak Energy (NYSE:JAG) was downgraded by Seaport Global Securities from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat reports. Seaport Global Securities also issued estimates for Jagged Peak Energy’s Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.13 EPS and FY2019 earnings at $0.42 EPS.
A number of other research analysts have also recently weighed in on the company. Barclays reduced their target price on Jagged Peak Energy from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. ValuEngine upgraded Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup reduced their target price on Jagged Peak Energy from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. TheStreet cut Jagged Peak Energy from a “c-” rating to a “d+” rating in a report on Wednesday, June 12th. Finally, Piper Jaffray Companies set a $10.00 target price on Jagged Peak Energy and gave the company a “buy” rating in a report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $12.54.
JAG stock opened at $6.82 on Thursday. Jagged Peak Energy has a 52-week low of $5.80 and a 52-week high of $14.26. The stock’s fifty day simple moving average is $7.20 and its 200-day simple moving average is $8.50. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 9.74 and a beta of 1.09.
Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings data on Thursday, August 8th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Jagged Peak Energy had a return on equity of 12.36% and a net margin of 18.73%. The business had revenue of $146.80 million for the quarter, compared to analyst estimates of $143.30 million. During the same quarter last year, the business earned $0.20 EPS. Jagged Peak Energy’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts anticipate that Jagged Peak Energy will post 0.49 earnings per share for the current fiscal year.
In other Jagged Peak Energy news, insider Shonn D. Stahlecker sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $6.69, for a total transaction of $53,520.00. Following the transaction, the insider now owns 452,120 shares in the company, valued at $3,024,682.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in shares of Jagged Peak Energy by 1,314.3% during the second quarter. Bank of Montreal Can now owns 5,544 shares of the mining company’s stock worth $45,000 after purchasing an additional 5,152 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Jagged Peak Energy by 5,513.3% during the second quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock worth $66,000 after purchasing an additional 7,884 shares in the last quarter. Quantamental Technologies LLC lifted its stake in shares of Jagged Peak Energy by 1,183.6% during the second quarter. Quantamental Technologies LLC now owns 8,985 shares of the mining company’s stock worth $74,000 after purchasing an additional 8,285 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Jagged Peak Energy during the second quarter worth about $79,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Jagged Peak Energy during the second quarter worth about $92,000. Institutional investors own 29.62% 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, 2018, it held an 87% average working interest in approximately 79,500 net acres with an estimated net proved reserves of 118,890 thousand barrel of oil equivalent, as well as owned a 89% average working interest in 143 net productive wells.
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