Jagged Peak Energy LLC (NYSE:JAG) – Equities research analysts at Seaport Global Securities reduced their Q3 2018 earnings per share (EPS) estimates for Jagged Peak Energy in a report issued on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now forecasts that the mining company will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.11. Seaport Global Securities also issued estimates for Jagged Peak Energy’s Q4 2018 earnings at $0.11 EPS, Q1 2019 earnings at $0.11 EPS and Q2 2019 earnings at $0.13 EPS.
Other analysts have also recently issued reports about the company. KeyCorp restated a “buy” rating and issued a $17.00 target price on shares of Jagged Peak Energy in a report on Tuesday, February 27th. Zacks Investment Research cut Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 4th. Citigroup dropped their target price on Jagged Peak Energy from $21.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 27th. ValuEngine cut Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, Tudor Pickering cut Jagged Peak Energy from a “buy” rating to a “hold” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.54.
Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Friday, May 11th. The mining company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $129.05 million during the quarter, compared to analysts’ expectations of $117.42 million. Jagged Peak Energy had a positive return on equity of 10.30% and a negative net margin of 7.13%. The firm’s quarterly revenue was up 227.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.42) EPS.
Several institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Jagged Peak Energy by 2.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 205,168 shares of the mining company’s stock valued at $2,900,000 after purchasing an additional 4,738 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Jagged Peak Energy by 72.3% in the 1st quarter. Legal & General Group Plc now owns 23,513 shares of the mining company’s stock valued at $333,000 after purchasing an additional 9,869 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Jagged Peak Energy by 0.3% in the 1st quarter. BlackRock Inc. now owns 3,286,867 shares of the mining company’s stock valued at $46,443,000 after purchasing an additional 9,966 shares during the last quarter. JBF Capital Inc. acquired a new position in shares of Jagged Peak Energy in the 1st quarter valued at $141,000. Finally, Jane Street Group LLC acquired a new position in Jagged Peak Energy during the 4th quarter worth about $161,000. 26.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Robert William Howard sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $14.14, for a total value of $707,000.00. Following the transaction, the chief financial officer now owns 2,208,548 shares of the company’s stock, valued at approximately $31,228,868.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles D. Davidson purchased 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The stock was acquired at an average cost of $13.43 per share, for a total transaction of $147,730.00. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.
Jagged Peak Energy Company Profile
Jagged Peak Energy Inc operates as an independent oil and natural gas company. The company focuses 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. As of December 31, 2016, it held an 86% average working interest in approximately 75,200 net acres with an estimated net proved reserves of 82,358 thousand barrel of oil equivalent, as well as owned a 94% average working interest in 94 net productive wells.
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