Raymond James Financial Services Advisors Inc. lessened its stake in Jagged Peak Energy Inc (NYSE:JAG) by 34.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,906 shares of the mining company’s stock after selling 16,600 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Jagged Peak Energy were worth $488,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new position in shares of Jagged Peak Energy during the 3rd quarter valued at approximately $205,000. Legal & General Group Plc raised its stake in Jagged Peak Energy by 96.8% in 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 last quarter. Voya Investment Management LLC acquired a new position in Jagged Peak Energy in the 2nd quarter valued at $222,000. Parametric Portfolio Associates LLC acquired a new position in Jagged Peak Energy in the 2nd quarter valued at $252,000. Finally, Teacher Retirement System of Texas acquired a new position in Jagged Peak Energy in the 4th quarter valued at $283,000. Institutional investors and hedge funds own 23.89% of the company’s stock.
JAG has been the subject of several recent research reports. KeyCorp reduced their price objective on Jagged Peak Energy from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, March 22nd. UBS began coverage on Jagged Peak Energy in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $13.50 target price for the company. Citigroup raised their target price on Jagged Peak Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, March 9th. Credit Suisse Group cut their target price on Jagged Peak Energy from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus set a $19.00 target price on Jagged Peak Energy and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $16.61.
In other news, EVP Christopher Humber sold 2,664 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.97, for a total transaction of $34,552.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph N. Jaggers sold 9,991 shares of the firm’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 $129,583.27. The disclosure for this sale can be found here. Insiders sold a total of 612,016 shares of company stock valued at $7,688,993 in the last quarter.
Jagged Peak Energy stock traded down $0.58 during midday trading on Friday, reaching $13.24. 1,465,912 shares of the stock traded hands, compared to its average volume of 1,719,899. Jagged Peak Energy Inc has a 12-month low of $10.96 and a 12-month high of $16.55. The stock has a market capitalization of $2,819.21, a price-to-earnings ratio of 50.92 and a beta of -1.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.35 and a quick ratio of 0.35.
Jagged Peak Energy (NYSE:JAG) last announced its earnings results on Thursday, March 22nd. The mining company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $104.40 million during the quarter, compared to analysts’ expectations of $100.42 million. Jagged Peak Energy had a positive return on equity of 8.28% and a negative net margin of 135.25%. Jagged Peak Energy’s revenue for the quarter was up 319.3% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. equities research analysts anticipate that Jagged Peak Energy Inc will post 0.52 earnings per share for the current year.
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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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