Wall Street brokerages predict that Jagged Peak Energy Inc (NYSE:JAG) will report $137.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Jagged Peak Energy’s earnings, with the highest sales estimate coming in at $153.97 million and the lowest estimate coming in at $121.00 million. Jagged Peak Energy reported sales of $53.05 million during the same quarter last year, which indicates a positive year-over-year growth rate of 159.8%. The company is scheduled to report its next earnings results on Wednesday, August 8th.
On average, analysts expect that Jagged Peak Energy will report full-year sales of $547.95 million for the current fiscal year, with estimates ranging from $506.00 million to $608.47 million. For the next financial year, analysts expect that the company will report sales of $684.37 million per share, with estimates ranging from $633.50 million to $729.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Jagged Peak Energy.
Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Friday, May 11th. The mining company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $129.05 million for the quarter, compared to analysts’ expectations of $117.42 million. Jagged Peak Energy had a negative net margin of 7.13% and a positive return on equity of 10.30%. The firm’s revenue was up 227.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share.
Several brokerages recently weighed in on JAG. Zacks Investment Research raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. ValuEngine raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Stifel Nicolaus set a $19.00 price objective on shares of Jagged Peak Energy and gave the stock a “buy” rating in a report on Wednesday, March 28th. JPMorgan Chase & Co. cut their price objective on shares of Jagged Peak Energy from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, May 22nd. Finally, Credit Suisse Group cut their price objective on shares of Jagged Peak Energy from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.54.
NYSE:JAG traded up $0.01 during mid-day trading on Thursday, hitting $10.87. The stock had a trading volume of 2,078,700 shares, compared to its average volume of 1,440,837. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 41.85 and a beta of -1.36. Jagged Peak Energy has a twelve month low of $10.57 and a twelve month high of $16.55. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.36.
In other news, CFO Robert William Howard sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were 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 in the company, valued at $31,228,868.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles D. Davidson bought 11,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were acquired at an average price 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 company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners grew its position in shares of Jagged Peak Energy by 10.2% during the first quarter. Boston Partners now owns 6,415,200 shares of the mining company’s stock worth $90,647,000 after acquiring an additional 593,072 shares during the last quarter. BlackRock Inc. grew its position in shares of Jagged Peak Energy by 0.3% during the first quarter. BlackRock Inc. now owns 3,286,867 shares of the mining company’s stock worth $46,443,000 after acquiring an additional 9,966 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Jagged Peak Energy by 69.2% during the first quarter. JPMorgan Chase & Co. now owns 1,882,697 shares of the mining company’s stock worth $26,603,000 after acquiring an additional 770,313 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Jagged Peak Energy by 119.5% during the fourth quarter. Citadel Advisors LLC now owns 1,305,196 shares of the mining company’s stock worth $20,596,000 after acquiring an additional 710,624 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Jagged Peak Energy during the first quarter worth approximately $15,038,000. Institutional investors and hedge funds own 26.90% of the company’s stock.
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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