Wall Street brokerages expect Jagged Peak Energy Inc (NYSE:JAG) to announce sales of $104.21 million for the current quarter, according to Zacks. Seven analysts have made estimates for Jagged Peak Energy’s earnings. The highest sales estimate is $112.50 million and the lowest is $96.78 million. Jagged Peak Energy posted sales of $24.88 million during the same quarter last year, which indicates a positive year-over-year growth rate of 318.9%. The firm is expected to issue its next earnings report on Thursday, March 22nd.
According to Zacks, analysts expect that Jagged Peak Energy will report full year sales of $104.21 million for the current financial year, with estimates ranging from $259.67 million to $275.40 million. For the next year, analysts expect that the business will report sales of $582.41 million per share, with estimates ranging from $525.00 million to $672.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Jagged Peak Energy.
JAG has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on Jagged Peak Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $16.00 target price on the stock. ValuEngine downgraded Jagged Peak Energy from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Royal Bank of Canada downgraded Jagged Peak Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 25th. Scotiabank set a $16.00 price target on Jagged Peak Energy and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Finally, Wolfe Research assumed coverage on Jagged Peak Energy in a research note on Tuesday, November 14th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Jagged Peak Energy has an average rating of “Buy” and a consensus price target of $17.53.
In other news, CEO Joseph N. Jaggers sold 6,656 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $15.25, for a total value of $101,504.00. Following the sale, the chief executive officer now owns 5,123,908 shares in the company, valued at $78,139,597. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Humber sold 2,664 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.97, for a total value of $34,552.08. The disclosure for this sale can be found here. Insiders sold 903,262 shares of company stock worth $12,255,473 in the last 90 days.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Jagged Peak Energy by 61.2% in the second quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock worth $102,000 after buying an additional 2,924 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Jagged Peak Energy in the fourth quarter worth about $161,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Jagged Peak Energy in the second quarter worth about $153,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Jagged Peak Energy in the fourth quarter worth about $186,000. Finally, Virtu Financial LLC purchased a new stake in shares of Jagged Peak Energy in the fourth quarter worth about $223,000. Hedge funds and other institutional investors own 23.11% of the company’s stock.
Shares of Jagged Peak Energy (NYSE:JAG) traded down $0.18 during trading hours on Friday, reaching $12.53. The company had a trading volume of 692,623 shares, compared to its average volume of 1,340,364. Jagged Peak Energy has a 12 month low of $10.96 and a 12 month high of $16.55. The firm has a market cap of $2,748.94 and a price-to-earnings ratio of -30.17. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.05.
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About Jagged Peak Energy
Jagged Peak Energy Inc is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin. The Company’s acreage is located on contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos, with original oil-in-place within multiple stacked hydrocarbon-bearing formations.
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