Jagged Peak Energy (JAG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Jagged Peak Energy (NYSE:JAG) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Jagged Peak Energy Inc. is an oil and natural gas company. It focused 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. Jagged Peak Energy Inc. is based in Denver, United States. “

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Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus set a $19.00 price target on shares of Jagged Peak Energy and gave the company a buy rating in a research report on Wednesday, March 28th. Citigroup reduced their price target on shares of Jagged Peak Energy from $21.00 to $16.00 and set a buy rating for the company in a research report on Tuesday, March 27th. KeyCorp reduced their price target on shares of Jagged Peak Energy from $17.00 to $16.00 and set an overweight rating for the company in a research report on Thursday, March 22nd. Bank of America reduced their price target on shares of Jagged Peak Energy from $18.00 to $16.00 and set a buy rating for the company in a research report on Thursday, March 8th. Finally, UBS began coverage on shares of Jagged Peak Energy in a research report on Wednesday, March 7th. They set a neutral rating and a $13.50 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Jagged Peak Energy presently has an average rating of Hold and an average price target of $16.61.

Shares of JAG opened at $13.24 on Wednesday. The company has a market cap of $2,942.70, a P/E ratio of 50.92 and a beta of -1.13. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.22. Jagged Peak Energy has a twelve month low of $10.96 and a twelve month high of $16.55.

Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings results on Thursday, March 22nd. The mining company reported $0.09 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $104.40 million during the quarter, compared to the consensus estimate of $100.42 million. Jagged Peak Energy had a negative net margin of 135.25% and a positive return on equity of 8.28%. The firm’s quarterly revenue was up 319.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. sell-side analysts anticipate that Jagged Peak Energy will post 0.52 EPS for the current fiscal year.

In other news, EVP Mark R. Petry sold 444,067 shares of Jagged Peak Energy stock in a transaction on Monday, February 5th. The shares were sold at an average price of $12.47, for a total transaction of $5,537,515.49. Following the transaction, the executive vice president now owns 1,632,501 shares in the company, valued at approximately $20,357,287.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Petry sold 148,941 shares of Jagged Peak Energy stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $12.79, for a total transaction of $1,904,955.39. Following the transaction, the executive vice president now owns 1,632,501 shares in the company, valued at approximately $20,879,687.79. The disclosure for this sale can be found here. Insiders sold 612,016 shares of company stock worth $7,688,993 in the last 90 days.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of Jagged Peak Energy during the 4th quarter worth $161,000. Stone Ridge Asset Management LLC purchased a new position in shares of Jagged Peak Energy during the 4th quarter worth $186,000. Trexquant Investment LP bought a new stake in shares of Jagged Peak Energy during the 3rd quarter valued at $205,000. Legal & General Group Plc raised its position in shares of Jagged Peak Energy by 96.8% during the 3rd quarter. Legal & General Group Plc now owns 15,156 shares of the mining company’s stock valued at $207,000 after purchasing an additional 7,454 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Jagged Peak Energy during the 4th quarter valued at $223,000. Institutional investors and hedge funds own 23.89% of the company’s stock.

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Jagged Peak Energy Company Profile

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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