KeyCorp Analysts Cut Earnings Estimates for Jagged Peak Energy Inc. (JAG)
Jagged Peak Energy Inc. (NYSE:JAG) – Analysts at KeyCorp lowered their Q4 2017 earnings estimates for Jagged Peak Energy in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. Stevens now expects that the mining company will earn $0.10 per share for the quarter, down from their previous forecast of $0.11. KeyCorp also issued estimates for Jagged Peak Energy’s Q1 2018 earnings at $0.11 EPS, Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.57 EPS.
Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.07. The business had revenue of $70.45 million during the quarter, compared to the consensus estimate of $72.50 million. Jagged Peak Energy had a positive return on equity of 6.80% and a negative net margin of 200.39%. The company’s quarterly revenue was up 219.3% on a year-over-year basis.
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A number of other brokerages also recently commented on JAG. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Jagged Peak Energy in a research report on Friday, November 3rd. Wolfe Research assumed coverage on Jagged Peak Energy in a research report on Tuesday, November 14th. They issued a “market perform” rating for the company. BMO Capital Markets set a $17.00 price objective on Jagged Peak Energy and gave the company a “buy” rating in a research report on Tuesday, November 14th. Scotiabank reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Jagged Peak Energy in a research report on Wednesday. Finally, Zacks Investment Research downgraded Jagged Peak Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.72.
Shares of Jagged Peak Energy (NYSE JAG) opened at $15.07 on Thursday. The company has a market capitalization of $3,132.21 and a price-to-earnings ratio of 77.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.38 and a quick ratio of 0.38. Jagged Peak Energy has a 1 year low of $10.96 and a 1 year high of $15.21.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its stake in shares of 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 purchasing an additional 2,924 shares in the last quarter. UBS Group AG acquired a new position in shares of Jagged Peak Energy during the first quarter worth about $111,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Jagged Peak Energy during the second quarter worth about $153,000. Trexquant Investment LP acquired a new position in shares of Jagged Peak Energy during the third quarter worth about $205,000. Finally, Bank of America Corp DE acquired a new position in shares of Jagged Peak Energy during the first quarter worth about $206,000. Institutional investors own 18.78% of the company’s stock.
In other Jagged Peak Energy news, insider Shonn D. Stahlecker sold 100,000 shares of the business’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 transaction, the insider now owns 372,986 shares in the company, valued at $5,609,709.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
About Jagged Peak Energy
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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