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.
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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