Jagged Peak Energy Inc. (JAG) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Jagged Peak Energy Inc. (NYSE:JAG) from a buy rating to a hold rating in a report released on Thursday.

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. “

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus started coverage on shares of Jagged Peak Energy in a research report on Wednesday, March 15th. They set a buy rating and a $15.00 target price for the company. BMO Capital Markets restated a hold rating and set a $17.00 target price on shares of Jagged Peak Energy in a research report on Wednesday, March 22nd. Royal Bank Of Canada restated a buy rating and set a $20.00 target price on shares of Jagged Peak Energy in a research report on Friday, March 24th. Credit Suisse Group cut their target price on shares of Jagged Peak Energy from $20.00 to $19.00 and set an outperform rating for the company in a research report on Tuesday, March 28th. Finally, Howard Weil started coverage on shares of Jagged Peak Energy in a research report on Wednesday, March 8th. They set a sector perform rating and a $17.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $18.14.

Jagged Peak Energy (NYSE:JAG) traded up 3.19% during mid-day trading on Thursday, reaching $12.31. 822,688 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $12.80 and its 200 day moving average is $12.98. Jagged Peak Energy has a 1-year low of $10.96 and a 1-year high of $15.08. The stock’s market capitalization is $2.62 billion.

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A number of institutional investors have recently modified their holdings of JAG. TD Asset Management Inc. bought a new position in shares of Jagged Peak Energy during the first quarter valued at approximately $983,000. Spark Investment Management LLC acquired a new stake in Jagged Peak Energy during the first quarter valued at about $1,427,000. L & S Advisors Inc acquired a new stake in Jagged Peak Energy during the first quarter valued at about $464,000. Citadel Advisors LLC acquired a new stake in Jagged Peak Energy during the first quarter valued at about $12,202,000. Finally, Harbor Advisors LLC acquired a new stake in Jagged Peak Energy during the first quarter valued at about $196,000. 17.07% of the stock is owned by hedge funds and other institutional investors.

About Jagged Peak Energy

Jagged Peak Energy Inc is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin. The Company’s acreage is located on contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos, with original oil-in-place within multiple stacked hydrocarbon-bearing formations.

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