Jones Energy, Inc. (JONE) Rating Increased to Buy at Zacks Investment Research
Jones Energy, Inc. (NYSE:JONE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $2.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price target suggests a potential upside of 25.79% from the company’s previous close.
According to Zacks, “Jones Energy, Inc. is an independent oil and gas company. It engages in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Jones Energy, Inc. is based in Austin, Texas. “
A number of other research firms have also weighed in on JONE. ValuEngine lowered shares of Jones Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Seaport Global Securities lowered shares of Jones Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $1.50 in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co lowered shares of Jones Energy from an “overweight” rating to a “neutral” rating and set a $1.50 price objective for the company. in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $4.00.
Shares of Jones Energy (NYSE JONE) traded down 8.62% on Wednesday, reaching $1.59. 1,272,891 shares of the company were exchanged. The company’s 50-day moving average is $1.31 and its 200-day moving average is $1.74. Jones Energy has a 52 week low of $0.85 and a 52 week high of $5.34. The company’s market capitalization is $115.68 million.
Jones Energy (NYSE:JONE) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.30. Jones Energy had a negative net margin of 79.19% and a positive return on equity of 0.09%. The firm had revenue of $48.60 million for the quarter, compared to analysts’ expectations of $53.93 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The business’s revenue for the quarter was up 67.0% on a year-over-year basis. On average, equities analysts expect that Jones Energy will post ($0.21) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new stake in Jones Energy in the second quarter worth about $104,000. Raymond James Financial Services Advisors Inc. lifted its stake in Jones Energy by 9.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 779,726 shares of the oil and gas producer’s stock worth $1,248,000 after acquiring an additional 65,338 shares during the period. Q Global Advisors LLC purchased a new stake in Jones Energy in the second quarter worth about $146,000. State Street Corp lifted its stake in Jones Energy by 2.7% in the second quarter. State Street Corp now owns 1,000,217 shares of the oil and gas producer’s stock worth $1,603,000 after acquiring an additional 26,539 shares during the period. Finally, Columbia Pacific Advisors LLC lifted its stake in Jones Energy by 13.0% in the second quarter. Columbia Pacific Advisors LLC now owns 550,556 shares of the oil and gas producer’s stock worth $881,000 after acquiring an additional 63,500 shares during the period. 59.34% of the stock is owned by institutional investors.
Jones Energy Company Profile
Jones Energy, Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma.
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