Jagged Peak Energy (JAG) Shares Down 5.4%

Shares of Jagged Peak Energy Inc (NYSE:JAG) dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $12.33 and last traded at $12.33. Approximately 1,718,182 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 1,387,561 shares. The stock had previously closed at $13.04.

JAG has been the topic of several research analyst reports. ValuEngine upgraded Jagged Peak Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Barclays initiated coverage on Jagged Peak Energy in a research note on Wednesday, August 29th. They issued an “equal weight” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Jagged Peak Energy from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Credit Suisse Group upped their price objective on Jagged Peak Energy from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, National Alliance Securities initiated coverage on Jagged Peak Energy in a research note on Monday, October 22nd. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.18.

The stock has a market capitalization of $2.78 billion, a PE ratio of 48.46 and a beta of -0.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.12 and a quick ratio of 1.12.

Jagged Peak Energy (NYSE:JAG) last issued its quarterly earnings results on Friday, November 9th. The mining company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The business had revenue of $155.40 million for the quarter, compared to the consensus estimate of $144.71 million. Jagged Peak Energy had a return on equity of 14.55% and a net margin of 0.70%. The firm’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Equities research analysts anticipate that Jagged Peak Energy Inc will post 0.36 earnings per share for the current fiscal year.

In other Jagged Peak Energy news, CFO Robert William Howard sold 31,250 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $13.11, for a total value of $409,687.50. Following the sale, the chief financial officer now owns 2,074,173 shares of the company’s stock, valued at approximately $27,192,408.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher Humber sold 25,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $14.12, for a total value of $353,000.00. Following the completion of the sale, the executive vice president now directly owns 84,551 shares in the company, valued at approximately $1,193,860.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,750 shares of company stock worth $1,611,750. Company insiders own 1.50% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in shares of Jagged Peak Energy by 72.3% during the 1st quarter. Legal & General Group Plc now owns 23,513 shares of the mining company’s stock valued at $333,000 after acquiring an additional 9,869 shares in the last quarter. Cambiar Investors LLC acquired a new stake in shares of Jagged Peak Energy during the 2nd quarter valued at $5,390,000. Nikko Asset Management Americas Inc. acquired a new stake in shares of Jagged Peak Energy during the 2nd quarter valued at $5,298,000. TD Asset Management Inc. boosted its holdings in shares of Jagged Peak Energy by 41.6% during the 2nd quarter. TD Asset Management Inc. now owns 65,500 shares of the mining company’s stock valued at $853,000 after acquiring an additional 19,245 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Jagged Peak Energy during the 2nd quarter valued at $1,079,000. 33.59% of the stock is currently owned by hedge funds and other institutional investors.

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Jagged Peak Energy Company Profile (NYSE:JAG)

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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