Jagged Peak Energy Inc. (JAG) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Jagged Peak Energy Inc. (NYSE:JAG) from a sell rating to a hold rating in a research note published on Friday.
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. “
A number of other research firms have also recently weighed in on JAG. Citigroup Inc. dropped their price target on Jagged Peak Energy from $19.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, July 13th. BMO Capital Markets raised Jagged Peak Energy from a market perform rating to an outperform rating and set a $17.00 price objective on the stock in a report on Wednesday, July 12th. Royal Bank Of Canada set a $19.00 price objective on Jagged Peak Energy and gave the company a buy rating in a report on Saturday, June 3rd. Credit Suisse Group reaffirmed an outperform rating and issued a $19.00 price objective on shares of Jagged Peak Energy in a report on Friday, June 2nd. Finally, Scotiabank set a $13.00 price objective on Jagged Peak Energy and gave the company a hold rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Jagged Peak Energy presently has a consensus rating of Buy and a consensus price target of $17.75.
Jagged Peak Energy (JAG) traded up 0.16% during midday trading on Friday, reaching $12.83. 625,804 shares of the company’s stock were exchanged. Jagged Peak Energy has a 12 month low of $10.96 and a 12 month high of $15.19. The company’s market cap is $2.73 billion. The company has a 50 day moving average price of $13.03 and a 200 day moving average price of $12.88.
Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $53.10 million during the quarter, compared to analyst estimates of $55.12 million. The company’s revenue was up 175.1% on a year-over-year basis. On average, equities analysts anticipate that Jagged Peak Energy will post $0.08 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Jagged Peak Energy by 61.2% in the second quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock valued at $102,000 after buying an additional 2,924 shares during the period. UBS Group AG bought a new stake in Jagged Peak Energy during the first quarter valued at about $111,000. Strs Ohio bought a new stake in Jagged Peak Energy during the first quarter valued at about $122,000. Dynamic Technology Lab Private Ltd bought a new stake in Jagged Peak Energy during the second quarter valued at about $153,000. Finally, Harbor Advisors LLC bought a new stake in Jagged Peak Energy during the first quarter valued at about $196,000. 17.10% of the stock is currently owned by institutional investors.
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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