Jagged Peak Energy (JAG) Shares Down 5.3% After Insider Selling

Jagged Peak Energy LLC (NYSE:JAG)’s share price dropped 5.3% during trading on Wednesday following insider selling activity. The stock traded as low as $12.43 and last traded at $12.47. Approximately 1,519,034 shares traded hands during trading, an increase of 10% from the average daily volume of 1,385,339 shares. The stock had previously closed at $13.17.

Specifically, CFO Robert William Howard sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $14.14, for a total transaction of $707,000.00. Following the transaction, the chief financial officer now directly owns 2,208,548 shares of the company’s stock, valued at $31,228,868.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles D. Davidson bought 11,000 shares of Jagged Peak Energy stock in a transaction dated Wednesday, May 16th. The shares were acquired at an average cost of $13.43 per share, for a total transaction of $147,730.00. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

JAG has been the topic of several research analyst reports. Royal Bank of Canada cut Jagged Peak Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 25th. Tudor Pickering cut Jagged Peak Energy from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Stifel Nicolaus set a $16.00 price target on Jagged Peak Energy and gave the stock a “buy” rating in a research note on Monday, January 29th. ValuEngine cut Jagged Peak Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Credit Suisse Group reduced their price target on Jagged Peak Energy from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Jagged Peak Energy presently has a consensus rating of “Hold” and an average price target of $16.54.

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $2.88 billion, a P/E ratio of 48.77 and a beta of -1.13.

Jagged Peak Energy (NYSE:JAG) last released its earnings results on Friday, May 11th. The mining company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Jagged Peak Energy had a positive return on equity of 10.30% and a negative net margin of 7.13%. The business had revenue of $129.05 million for the quarter, compared to the consensus estimate of $117.42 million. During the same period in the previous year, the company posted ($0.42) earnings per share. The company’s revenue for the quarter was up 227.6% compared to the same quarter last year. equities analysts anticipate that Jagged Peak Energy LLC will post 0.36 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in JAG. JBF Capital Inc. bought a new stake in Jagged Peak Energy in the first quarter worth $141,000. Jane Street Group LLC bought a new stake in Jagged Peak Energy in the fourth quarter worth $161,000. Prudential Financial Inc. bought a new stake in Jagged Peak Energy in the first quarter worth $168,000. Stone Ridge Asset Management LLC bought a new stake in Jagged Peak Energy in the fourth quarter worth $186,000. Finally, Virtu Financial LLC bought a new stake in Jagged Peak Energy in the fourth quarter worth $223,000. 26.58% of the stock is currently owned by institutional investors and hedge funds.

About Jagged Peak Energy

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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