Jagged Peak Energy Inc (NYSE:JAG) Sees Significant Growth in Short Interest

Jagged Peak Energy Inc (NYSE:JAG) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 27,090,000 shares, an increase of 33.6% from the September 30th total of 20,270,000 shares. Approximately 46.4% of the shares of the company are short sold. Based on an average daily trading volume, of 3,440,000 shares, the days-to-cover ratio is currently 7.9 days.

JAG has been the subject of several research reports. SunTrust Banks reduced their price target on shares of Jagged Peak Energy from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Co reduced their price target on shares of Jagged Peak Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup reduced their price target on shares of Jagged Peak Energy from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Seaport Global Securities lowered shares of Jagged Peak Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, ValuEngine upgraded shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.13.

Shares of NYSE:JAG opened at $7.29 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.57 billion, a PE ratio of 11.39, a P/E/G ratio of 11.80 and a beta of 1.08. Jagged Peak Energy has a twelve month low of $5.80 and a twelve month high of $12.76. The company has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $7.93.

Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Thursday, November 7th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $150.07 million for the quarter, compared to the consensus estimate of $151.37 million. Jagged Peak Energy had a return on equity of 9.85% and a net margin of 29.01%. Jagged Peak Energy’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. Analysts anticipate that Jagged Peak Energy will post 0.48 earnings per share for the current fiscal year.

In related news, insider Shonn D. Stahlecker sold 10,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $6.82, for a total transaction of $68,200.00. Following the completion of the transaction, the insider now owns 442,120 shares in the company, valued at $3,015,258.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Denali Advisors LLC bought a new position in shares of Jagged Peak Energy during the 2nd quarter valued at approximately $79,000. WINTON GROUP Ltd bought a new position in shares of Jagged Peak Energy during the 2nd quarter valued at approximately $92,000. Rothschild & Co. Asset Management US Inc. bought a new position in shares of Jagged Peak Energy during the 2nd quarter valued at approximately $1,842,000. First Trust Advisors LP boosted its stake in Jagged Peak Energy by 189.9% in the 2nd quarter. First Trust Advisors LP now owns 115,155 shares of the mining company’s stock worth $952,000 after purchasing an additional 75,433 shares during the period. Finally, Aperio Group LLC bought a new position in Jagged Peak Energy in the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 29.63% 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, 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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