Jones Energy Receives New Coverage from Analysts at Stifel Nicolaus (JONE)
Research analysts at Stifel Nicolaus initiated coverage on shares of Jones Energy (NASDAQ:JONE) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 32.89% from the company’s current price.
The analysts wrote, “With an industry-leading cost structure in the Mid-Continent region, Jones Energy is poised to internally fund a highly profitable development drilling program that we believe should drive annual production growth of approximately 29% over the next two years. The bulk of this anticipated organic growth will come from a five-plus year drilling inventory in the Cleveland sand play, where the company’s typical well costs 35% less than its top competitors and generates an IRR of 60%-plus. An underappreciated liquids prone Woodford shale asset should supplement growth, while emerging Marmaton and Tonkawa plays could add to the inventory.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of Jones Energy (NASDAQ:JONE) in a research note to investors on Thursday. They set a “buy” rating on the stock. Analysts at SunTrust initiated coverage on shares of Jones Energy (NASDAQ:JONE) in a research note to investors on Wednesday. They set a “buy” rating on the stock.
Shares of Jones Energy (NASDAQ:JONE) traded up 0.93% during mid-day trading on Thursday, hitting $15.19. The stock had a trading volume of 50,599 shares. Jones Energy has a 52-week low of $13.60 and a 52-week high of $15.10. The stock’s 50-day moving average is $14.21 and its 200-day moving average is $14.21. The company’s market cap is $189.9 million.
Jones Energy, Inc is an independent oil and gas company engaged in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma.
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