Jagged Peak Energy (NYSE:JAG) was downgraded by research analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat.com 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.
JAG has been the subject of a number of other reports. Williams Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of Jagged Peak Energy in a research report on Thursday, August 22nd. TheStreet cut Jagged Peak Energy from a “c-” rating to a “d+” rating in a research report on Wednesday, June 12th. Bank of America cut Jagged Peak Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $9.00 in a research report on Tuesday, September 10th. ValuEngine raised Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays decreased their price objective on Jagged Peak Energy from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Jagged Peak Energy has an average rating of “Buy” and a consensus target price of $12.54.
Shares of NYSE JAG opened at $6.82 on Thursday. The stock has a market cap of $1.40 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 9.74 and a beta of 1.09. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.74. Jagged Peak Energy has a 52-week low of $5.80 and a 52-week high of $14.26. The business has a 50-day moving average price of $7.20 and a 200 day moving average price of $8.50.
Jagged Peak Energy (NYSE:JAG) last announced its earnings results on Thursday, August 8th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Jagged Peak Energy had a net margin of 18.73% and a return on equity of 12.36%. The firm had revenue of $146.80 million during the quarter, compared to analyst estimates of $143.30 million. During the same period last year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. Sell-side analysts anticipate that Jagged Peak Energy will post 0.49 earnings per share for the current year.
In other news, insider Shonn D. Stahlecker sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $6.69, for a total transaction of $53,520.00. Following the completion of the transaction, the insider now directly owns 452,120 shares of the company’s stock, valued at approximately $3,024,682.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Jagged Peak Energy by 1,314.3% during the 2nd quarter. Bank of Montreal Can now owns 5,544 shares of the mining company’s stock worth $45,000 after buying an additional 5,152 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Jagged Peak Energy by 5,513.3% during the 2nd quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock worth $66,000 after buying an additional 7,884 shares in the last quarter. Quantamental Technologies LLC raised its stake in shares of Jagged Peak Energy by 1,183.6% during the 2nd quarter. Quantamental Technologies LLC now owns 8,985 shares of the mining company’s stock worth $74,000 after buying an additional 8,285 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Jagged Peak Energy during the 2nd quarter worth approximately $79,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Jagged Peak Energy during the 2nd quarter worth approximately $92,000. 29.62% of the stock is owned by institutional investors and hedge funds.
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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