Jagged Peak Energy Inc. (JAG) Stock Rating Lowered by Zacks Investment Research
Jagged Peak Energy Inc. (NYSE:JAG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.
According to Zacks, “Jagged Peak Energy Inc. is an oil and natural gas company. It focused 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. Jagged Peak Energy Inc. is based in Denver, United States. “
Several other research analysts also recently commented on the stock. BMO Capital Markets upgraded shares of Jagged Peak Energy from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research report on Wednesday, July 12th. Credit Suisse Group reiterated an “outperform” rating and set a $19.00 price target on shares of Jagged Peak Energy in a report on Friday, June 2nd. J P Morgan Chase & Co lowered their price target on shares of Jagged Peak Energy from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, May 31st. Citigroup Inc. lowered their price target on shares of Jagged Peak Energy from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Finally, KLR Group started coverage on shares of Jagged Peak Energy in a report on Monday, June 19th. They set a “buy” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.75.
Jagged Peak Energy (JAG) opened at 11.77 on Friday. The firm has a 50-day moving average price of $12.85 and a 200-day moving average price of $12.84. Jagged Peak Energy has a 12 month low of $10.96 and a 12 month high of $15.19. The company’s market capitalization is $2.51 billion.
Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by $0.03. The business had revenue of $53.10 million for the quarter, compared to analyst estimates of $55.12 million. Jagged Peak Energy’s quarterly revenue was up 175.1% compared to the same quarter last year. On average, equities analysts anticipate that Jagged Peak Energy will post $0.08 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Jagged Peak Energy by 61.2% in the second quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock valued at $102,000 after purchasing an additional 2,924 shares during the period. UBS Group AG acquired a new stake in Jagged Peak Energy in the first quarter valued at $111,000. Strs Ohio acquired a new stake in Jagged Peak Energy in the first quarter valued at $122,000. Dynamic Technology Lab Private Ltd acquired a new stake in Jagged Peak Energy in the second quarter valued at $153,000. Finally, Harbor Advisors LLC acquired a new stake in Jagged Peak Energy in the first quarter valued at $196,000. Institutional investors and hedge funds own 17.10% of the company’s stock.
Jagged Peak Energy Company Profile
Jagged Peak Energy Inc is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin. The Company’s acreage is located on contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos, with original oil-in-place within multiple stacked hydrocarbon-bearing formations.
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