Jagged Peak Energy Inc (JAG) Sees Significant Growth in Short Interest

Jagged Peak Energy Inc (NYSE:JAG) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 15,527,854 shares, an increase of 33.4% from the May 31st total of 11,637,029 shares. Currently, 28.3% of the shares of the company are sold short. Based on an average trading volume of 2,191,440 shares, the days-to-cover ratio is presently 7.1 days.

Jagged Peak Energy opened at $13.02 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.36 and a current ratio of 0.36. Jagged Peak Energy has a 12 month low of $10.55 and a 12 month high of $16.55. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 50.08 and a beta of -1.36.

Jagged Peak Energy (NYSE:JAG) last released its earnings results on Friday, May 11th. The mining company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Jagged Peak Energy had a negative net margin of 7.13% and a positive return on equity of 10.30%. The firm had revenue of $129.05 million for the quarter, compared to analyst estimates of $117.42 million. During the same period last year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 227.6% compared to the same quarter last year. equities research analysts forecast that Jagged Peak Energy will post 0.27 earnings per share for the current fiscal year.

JAG has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of Jagged Peak Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 8th. UBS Group initiated 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 on the stock. ValuEngine raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Stifel Nicolaus set a $19.00 price target on shares of Jagged Peak Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Jagged Peak Energy from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 22nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.19.

In related news, CFO Robert William Howard sold 15,625 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $11.95, for a total transaction of $186,718.75. Following the transaction, the chief financial officer now directly owns 2,136,673 shares of the company’s stock, valued at $25,533,242.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles D. Davidson purchased 11,000 shares of the stock in a transaction that occurred on 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. Over the last ninety days, insiders have sold 96,875 shares of company stock worth $1,311,844. 1.50% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Jagged Peak Energy by 72.3% in the 1st quarter. Legal & General Group Plc now owns 23,513 shares of the mining company’s stock valued at $333,000 after buying an additional 9,869 shares during the period. Precocity Capital LP bought a new position in Jagged Peak Energy in the 1st quarter valued at about $1,978,000. Westwood Holdings Group Inc. bought a new position in Jagged Peak Energy in the 1st quarter valued at about $15,038,000. Gluskin Sheff & Assoc Inc. bought a new position in Jagged Peak Energy in the 1st quarter valued at about $987,000. Finally, Tibra Equities Europe Ltd bought a new position in Jagged Peak Energy in the 1st quarter valued at about $334,000. 26.92% of the stock is currently owned by hedge funds and other institutional investors.

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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