JPMorgan Chase & Co. Grows Holdings in Jagged Peak Energy Inc. (JAG)
JPMorgan Chase & Co. boosted its holdings in shares of Jagged Peak Energy Inc. (NYSE:JAG) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,180,573 shares of the mining company’s stock after buying an additional 111,145 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of Jagged Peak Energy worth $16,173,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in Jagged Peak Energy by 61.2% during the second quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock worth $102,000 after buying an additional 2,924 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Jagged Peak Energy during the second quarter worth $153,000. Bank of America Corp DE acquired a new position in Jagged Peak Energy during the first quarter worth $206,000. Voya Investment Management LLC acquired a new position in Jagged Peak Energy during the second quarter worth $222,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Jagged Peak Energy by 9.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 16,647 shares of the mining company’s stock worth $222,000 after buying an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 21.26% of the company’s stock.
In related news, CEO Joseph N. Jaggers sold 58,844 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $15.28, for a total transaction of $899,136.32. Following the completion of the sale, the chief executive officer now owns 5,043,681 shares in the company, valued at $77,067,445.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shonn D. Stahlecker sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $15.04, for a total transaction of $1,504,000.00. Following the sale, the insider now owns 372,986 shares of the company’s stock, valued at approximately $5,609,709.44. The disclosure for this sale can be found here. Insiders have sold 165,500 shares of company stock valued at $2,504,640 in the last 90 days.
Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Jagged Peak Energy had a negative net margin of 200.39% and a positive return on equity of 6.80%. The business had revenue of $70.45 million during the quarter, compared to the consensus estimate of $72.50 million. The business’s revenue for the quarter was up 219.3% compared to the same quarter last year. analysts forecast that Jagged Peak Energy Inc. will post 0.28 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. BMO Capital Markets set a $17.00 price objective on shares of Jagged Peak Energy and gave the stock a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine downgraded shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group assumed coverage on shares of Jagged Peak Energy in a report on Monday, October 9th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, Seaport Global Securities assumed coverage on shares of Jagged Peak Energy in a report on Thursday, September 28th. They issued a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Jagged Peak Energy has an average rating of “Buy” and a consensus target price of $17.56.
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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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