KeyCorp Weighs in on Jagged Peak Energy Inc.’s Q3 2017 Earnings (JAG)
Jagged Peak Energy Inc. (NYSE:JAG) – Stock analysts at KeyCorp lowered their Q3 2017 earnings estimates for Jagged Peak Energy in a research report issued on Tuesday. KeyCorp analyst C. Stevens now forecasts that the mining company will post earnings of $0.07 per share for the quarter, down from their prior forecast of $0.08. KeyCorp also issued estimates for Jagged Peak Energy’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.28 EPS and FY2018 earnings at $0.64 EPS.
Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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.
A number of other equities research analysts have also weighed in on the company. BMO Capital Markets upgraded Jagged Peak Energy from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research report on Wednesday, July 12th. Zacks Investment Research lowered Jagged Peak Energy from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Credit Suisse Group restated an “outperform” rating and set a $19.00 price objective on shares of Jagged Peak Energy in a research report on Friday, June 2nd. J P Morgan Chase & Co reduced their price objective on Jagged Peak Energy from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada set a $17.00 price objective on Jagged Peak Energy and gave the stock a “buy” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $17.75.
Jagged Peak Energy (NYSE JAG) opened at 13.14 on Thursday. The company’s market cap is $2.80 billion. Jagged Peak Energy has a 12-month low of $11.71 and a 12-month high of $15.08. The company has a 50-day moving average price of $12.38 and a 200 day moving average price of $12.38.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oxford Asset Management bought a new stake in shares of Jagged Peak Energy in the 1st quarter valued at about $1,337,000. TD Asset Management Inc. bought a new stake in shares of Jagged Peak Energy in the 1st quarter valued at about $983,000. Wells Fargo & Company MN bought a new stake in shares of Jagged Peak Energy in the 1st quarter valued at about $757,000. Marshall Wace North America L.P. bought a new stake in shares of Jagged Peak Energy in the 1st quarter valued at about $1,040,000. Finally, UBS Oconnor LLC bought a new stake in shares of Jagged Peak Energy in the 1st quarter valued at about $7,634,000. Hedge funds and other institutional investors own 17.10% of the company’s stock.
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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