Jagged Peak Energy (NYSE:JAG) had its price target trimmed by SunTrust Banks from $12.00 to $10.00 in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the mining company’s stock.
A number of other research firms have also weighed in on JAG. Citigroup lowered their target price on Jagged Peak Energy from $12.00 to $11.00 and set a buy rating for the company in a report on Monday, September 23rd. Piper Jaffray Companies set a $10.00 price objective on Jagged Peak Energy and gave the company a buy rating in a report on Friday, August 16th. Seaport Global Securities lowered Jagged Peak Energy from a buy rating to a neutral rating in a report on Thursday, October 10th. Bank of America lowered Jagged Peak Energy from a buy rating to a neutral rating and decreased their price objective for the company from $10.00 to $9.00 in a report on Tuesday, September 10th. Finally, KeyCorp decreased their price objective on Jagged Peak Energy from $10.00 to $9.00 and set an overweight rating for the company in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Jagged Peak Energy has a consensus rating of Hold and an average price target of $11.38.
Jagged Peak Energy stock traded down $0.39 during mid-day trading on Wednesday, reaching $6.77. 4,074,662 shares of the company were exchanged, compared to its average volume of 5,510,258. The business has a fifty day moving average of $7.24 and a 200 day moving average of $8.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $1.44 billion, a P/E ratio of 10.58, a PEG ratio of 10.74 and a beta of 1.09. Jagged Peak Energy has a 12-month low of $5.80 and a 12-month high of $13.95.
Jagged Peak Energy (NYSE:JAG) last posted its earnings results on Thursday, August 8th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $143.30 million. Jagged Peak Energy had a return on equity of 12.36% and a net margin of 18.73%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Sell-side analysts predict that Jagged Peak Energy will post 0.49 EPS for the current year.
In related news, insider Shonn D. Stahlecker sold 8,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $6.69, for a total value of $53,520.00. Following the transaction, the insider now directly owns 452,120 shares of the company’s stock, valued at approximately $3,024,682.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in shares of Jagged Peak Energy by 1,314.3% in the 2nd quarter. Bank of Montreal Can now owns 5,544 shares of the mining company’s stock valued at $45,000 after acquiring an additional 5,152 shares during the period. Royal Bank of Canada increased its position in shares of Jagged Peak Energy by 5,513.3% in the 2nd quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock valued at $66,000 after acquiring an additional 7,884 shares during the period. Quantamental Technologies LLC increased its position in shares of Jagged Peak Energy by 1,183.6% in the 2nd quarter. Quantamental Technologies LLC now owns 8,985 shares of the mining company’s stock valued at $74,000 after acquiring an additional 8,285 shares during the period. Denali Advisors LLC acquired a new position in shares of Jagged Peak Energy in the 2nd quarter valued at $79,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Jagged Peak Energy in the 2nd quarter valued at $92,000. 29.64% of the stock is currently owned by hedge funds and other institutional investors.
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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