Jagged Peak Energy Inc (NYSE:JAG) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 16,409,100 shares, an increase of 18.5% from the June 30th total of 13,851,900 shares. Approximately 28.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 10.8 days.
A number of research analysts recently issued reports on JAG shares. Nomura started coverage on shares of Jagged Peak Energy in a report on Tuesday, July 9th. They issued an “overweight” rating for the company. Piper Jaffray Companies started coverage on shares of Jagged Peak Energy in a report on Monday, July 8th. They set an “overweight” rating and a $11.00 price target for the company. Stifel Nicolaus set a $15.00 price target on shares of Jagged Peak Energy and gave the stock a “buy” rating in a report on Friday, May 10th. ValuEngine lowered shares of Jagged Peak Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, Williams Capital started coverage on shares of Jagged Peak Energy in a report on Monday, June 17th. They set a “buy” rating and a $13.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.23.
In related news, insider Shonn D. Stahlecker sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.46, for a total value of $67,680.00. Following the completion of the transaction, the insider now owns 460,120 shares in the company, valued at approximately $3,892,615.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 24,400 shares of company stock valued at $191,628. 0.98% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. raised its stake in Jagged Peak Energy by 21.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,844,000 shares of the mining company’s stock valued at $15,250,000 after acquiring an additional 319,865 shares during the period. Zebra Capital Management LLC bought a new stake in Jagged Peak Energy in the 2nd quarter valued at about $113,000. Vanguard Group Inc. raised its stake in Jagged Peak Energy by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 5,236,720 shares of the mining company’s stock valued at $43,308,000 after acquiring an additional 60,007 shares during the period. CoreCommodity Management LLC raised its stake in Jagged Peak Energy by 117.9% in the 2nd quarter. CoreCommodity Management LLC now owns 105,805 shares of the mining company’s stock valued at $875,000 after acquiring an additional 57,254 shares during the period. Finally, Holocene Advisors LP raised its stake in Jagged Peak Energy by 14.9% in the 2nd quarter. Holocene Advisors LP now owns 28,682 shares of the mining company’s stock valued at $237,000 after acquiring an additional 3,730 shares during the period. 28.57% of the stock is owned by institutional investors.
Shares of JAG stock traded down $0.50 during trading hours on Wednesday, hitting $6.01. 1,343,809 shares of the company were exchanged, compared to its average volume of 1,355,892. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 9.53 and a beta of 1.07. Jagged Peak Energy has a fifty-two week low of $5.80 and a fifty-two week high of $14.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.37 and a current ratio of 0.37. The company’s 50 day simple moving average is $7.60.
Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $146.80 million for the quarter, compared to analyst estimates of $143.30 million. Jagged Peak Energy had a return on equity of 12.53% and a net margin of 18.73%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, analysts anticipate that Jagged Peak Energy will post 0.52 earnings per share for the current fiscal year.
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, 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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