Jones Energy (JONE) Sees Large Volume Increase

Shares of Jones Energy Inc (NYSE:JONE) saw unusually-high trading volume on Wednesday . Approximately 872,840 shares traded hands during trading, an increase of 669% from the previous session’s volume of 113,505 shares.The stock last traded at $2.35 and had previously closed at $2.08.

JONE has been the topic of a number of research analyst reports. ValuEngine raised Jones Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus set a $14.00 target price on Jones Energy and gave the stock a “buy” rating in a report on Wednesday, September 26th. Finally, Zacks Investment Research raised Jones Energy from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Jones Energy currently has an average rating of “Hold” and a consensus price target of $16.00.

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $12.09 million, a P/E ratio of -0.28 and a beta of 3.09.

Jones Energy (NYSE:JONE) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported ($6.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.43) by ($0.34). The company had revenue of $59.73 million for the quarter, compared to analyst estimates of $60.40 million. Jones Energy had a negative return on equity of 21.89% and a negative net margin of 22.39%. On average, sell-side analysts predict that Jones Energy Inc will post -26.31 earnings per share for the current year.

A hedge fund recently raised its stake in Jones Energy stock. Wolverine Asset Management LLC lifted its stake in shares of Jones Energy Inc (NYSE:JONE) by 249,244.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 775,461 shares of the oil and gas producer’s stock after purchasing an additional 775,150 shares during the quarter. Wolverine Asset Management LLC owned about 0.76% of Jones Energy worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

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About Jones Energy (NYSE:JONE)

Jones Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the mid-continent United States. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage located in the Anadarko Basin in Oklahoma and Texas.

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