Jones Energy Inc. (JONE) Upgraded to “Buy” at Stifel Nicolaus
Jones Energy Inc. (NYSE:JONE) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $6.00 price objective on the stock, up from their previous price objective of $3.00. Stifel Nicolaus’ target price points to a potential upside of 38.89% from the stock’s previous close.
Other analysts have also issued reports about the company. Seaport Global Securities started coverage on Jones Energy in a research report on Tuesday, August 30th. They issued an “accumulate” rating and a $3.50 target price for the company. Imperial Capital decreased their target price on Jones Energy from $5.50 to $3.75 and set an “outperform” rating for the company in a research report on Monday, August 22nd. Zacks Investment Research lowered Jones Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 26th. Finally, Barclays PLC decreased their target price on Jones Energy from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.03.
Jones Energy (NYSE:JONE) traded down 3.14% during mid-day trading on Wednesday, reaching $4.32. The company’s stock had a trading volume of 2,091,680 shares. The firm has a 50 day moving average price of $3.11 and a 200 day moving average price of $3.73. The company has a market cap of $141.78 million, a price-to-earnings ratio of 13.94 and a beta of 2.99. Jones Energy has a 52-week low of $1.16 and a 52-week high of $5.84.
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Jones Energy (NYSE:JONE) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.04. Jones Energy had a net margin of 6.80% and a negative return on equity of 0.73%. The firm earned $29.10 million during the quarter, compared to the consensus estimate of $44.03 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The business’s quarterly revenue was down 46.0% on a year-over-year basis. Equities research analysts anticipate that Jones Energy will post ($0.24) earnings per share for the current year.
In other Jones Energy news, major shareholder Advisors L.L.C. Jvl bought 9,025,270 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $2.77 per share, for a total transaction of $24,999,997.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 50.10% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Jones Energy by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 80,262 shares of the company’s stock worth $331,000 after buying an additional 1,344 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Jones Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 196,177 shares of the company’s stock worth $653,000 after buying an additional 3,194 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Jones Energy by 5.3% in the second quarter. California State Teachers Retirement System now owns 64,646 shares of the company’s stock worth $266,000 after buying an additional 3,270 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Jones Energy by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 300,984 shares of the company’s stock worth $1,241,000 after buying an additional 11,928 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Jones Energy by 14.6% in the second quarter. Parametric Portfolio Associates LLC now owns 100,616 shares of the company’s stock worth $415,000 after buying an additional 12,798 shares during the last quarter. Hedge funds and other institutional investors own 71.91% of the company’s stock.
About Jones Energy
Jones Energy, Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma.
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