Jagged Peak Energy (NYSE:JAG) PT Lowered to $9.00

Jagged Peak Energy (NYSE:JAG) had its target price trimmed by UBS Group from $10.00 to $9.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the mining company’s stock.

Several other research analysts also recently issued reports on JAG. Bank of America downgraded shares of Jagged Peak Energy from a buy rating to a neutral rating and dropped their target price for the stock from $10.00 to $9.00 in a research note on Tuesday, September 10th. Nomura assumed coverage on shares of Jagged Peak Energy in a research note on Tuesday, July 9th. They issued an overweight rating on the stock. SunTrust Banks dropped their target price on shares of Jagged Peak Energy from $12.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday. Williams Financial Group downgraded shares of Jagged Peak Energy from a buy rating to a hold rating and set a $9.00 target price on the stock. in a research note on Tuesday. Finally, Seaport Global Securities downgraded shares of Jagged Peak Energy from a buy rating to a neutral rating in a research note on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $11.38.

Shares of NYSE JAG traded down $0.39 during midday trading on Thursday, hitting $6.77. The stock had a trading volume of 4,074,662 shares, compared to its average volume of 1,838,108. The business’s 50 day moving average is $7.23 and its 200-day moving average is $8.39. The company has a market cap of $1.47 billion, a P/E ratio of 10.70, a PEG ratio of 10.35 and a beta of 1.09. Jagged Peak Energy has a 52 week low of $5.80 and a 52 week high of $13.95. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.74.

Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $146.80 million during the quarter, compared to the consensus estimate of $143.30 million. Jagged Peak Energy had a return on equity of 12.36% and a net margin of 18.73%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, analysts expect that Jagged Peak Energy will post 0.49 EPS for the current fiscal year.

In related news, insider Shonn D. Stahlecker sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $6.69, for a total transaction of $53,520.00. Following the transaction, the insider now owns 452,120 shares in the company, valued at $3,024,682.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in Jagged Peak Energy by 1,314.3% during the second quarter. Bank of Montreal Can now owns 5,544 shares of the mining company’s stock valued at $45,000 after buying an additional 5,152 shares during the last quarter. Royal Bank of Canada increased its holdings in Jagged Peak Energy by 5,513.3% during the second quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock valued at $66,000 after buying an additional 7,884 shares during the last quarter. Quantamental Technologies LLC increased its holdings in Jagged Peak Energy by 1,183.6% during the second quarter. Quantamental Technologies LLC now owns 8,985 shares of the mining company’s stock valued at $74,000 after buying an additional 8,285 shares during the last quarter. Denali Advisors LLC purchased a new stake in Jagged Peak Energy during the second quarter valued at approximately $79,000. Finally, WINTON GROUP Ltd purchased a new stake in Jagged Peak Energy during the second quarter valued at approximately $92,000. 29.64% of the stock is owned by institutional investors and hedge funds.

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, 2018, it held an 87% average working interest in approximately 79,500 net acres with an estimated net proved reserves of 118,890 thousand barrel of oil equivalent, as well as owned a 89% average working interest in 143 net productive wells.

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Analyst Recommendations for Jagged Peak Energy (NYSE:JAG)

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