Jagged Peak Energy (JAG) Issues Quarterly Earnings Results

Jagged Peak Energy (NYSE:JAG) posted its quarterly earnings results on Friday. The mining company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03, Morningstar.com reports. Jagged Peak Energy had a positive return on equity of 17.47% and a negative net margin of 1.48%. The business had revenue of $155.40 million during the quarter, compared to the consensus estimate of $144.71 million. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up 120.4% compared to the same quarter last year.

Shares of JAG opened at $12.60 on Friday. The company has a market cap of $2.63 billion, a PE ratio of 20.90 and a beta of -0.11. Jagged Peak Energy has a 1 year low of $10.55 and a 1 year high of $16.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.12.

Several research firms have weighed in on JAG. ValuEngine downgraded Jagged Peak Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Jagged Peak Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. National Alliance Securities began coverage on Jagged Peak Energy in a research note on Monday, October 22nd. They issued a “hold” rating for the company. JPMorgan Chase & Co. upped their price target on Jagged Peak Energy from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Finally, Barclays began coverage on Jagged Peak Energy in a research note on Wednesday, August 29th. They issued an “equal weight” rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.18.

In other news, EVP Christopher Humber sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $14.12, for a total transaction of $353,000.00. Following the sale, the executive vice president now directly owns 84,551 shares of the company’s stock, valued at approximately $1,193,860.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert William Howard sold 31,250 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $13.19, for a total value of $412,187.50. Following the sale, the chief financial officer now directly owns 2,042,923 shares in the company, valued at $26,946,154.37. The disclosure for this sale can be found here. Insiders have sold a total of 118,750 shares of company stock worth $1,611,750 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of JAG. Boston Partners raised its holdings in shares of Jagged Peak Energy by 67.0% during the 2nd quarter. Boston Partners now owns 10,714,424 shares of the mining company’s stock worth $139,502,000 after acquiring an additional 4,299,224 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Jagged Peak Energy during the 2nd quarter worth approximately $32,913,000. BlackRock Inc. raised its holdings in shares of Jagged Peak Energy by 15.4% during the 3rd quarter. BlackRock Inc. now owns 4,383,358 shares of the mining company’s stock worth $60,621,000 after acquiring an additional 585,978 shares in the last quarter. Cambiar Investors LLC purchased a new stake in shares of Jagged Peak Energy during the 2nd quarter worth approximately $5,390,000. Finally, Nikko Asset Management Americas Inc. purchased a new stake in Jagged Peak Energy during the 2nd quarter valued at $5,298,000. 33.59% of the stock is currently owned by institutional investors and hedge funds.

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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, 2016, it held an 86% average working interest in approximately 75,200 net acres with an estimated net proved reserves of 82,358 thousand barrel of oil equivalent, as well as owned a 94% average working interest in 94 net productive wells.

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Earnings History for Jagged Peak Energy (NYSE:JAG)

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