Royal Bank Of Canada Reiterates “Buy” Rating for Jagged Peak Energy Inc. (JAG)
Jagged Peak Energy Inc. (NYSE:JAG)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $17.00 target price on the mining company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 14.71% from the company’s current price.
Several other analysts have also recently issued reports on the stock. BMO Capital Markets raised 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 note on Wednesday, July 12th. Zacks Investment Research lowered shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Jefferies Group LLC assumed coverage on shares of Jagged Peak Energy in a report on Monday, October 9th. They set a “hold” rating and a $14.00 target price on the stock. Citigroup Inc set a $19.00 target price on shares of Jagged Peak Energy and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Imperial Capital started coverage on shares of Jagged Peak Energy in a report on Thursday, October 12th. They set an “outperform” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.61.
Shares of Jagged Peak Energy (JAG) traded up $0.39 during trading hours on Friday, hitting $14.82. 854,815 shares of the company were exchanged, compared to its average volume of 693,949.
Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $53.10 million for the quarter, compared to the consensus estimate of $55.12 million. Jagged Peak Energy’s revenue was up 175.1% compared to the same quarter last year. sell-side analysts predict that Jagged Peak Energy will post 0.28 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in shares of Jagged Peak Energy by 61.2% in the 2nd quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock valued at $102,000 after acquiring an additional 2,924 shares in the last quarter. UBS Group AG acquired a new position in Jagged Peak Energy in the 1st quarter valued at approximately $111,000. Strs Ohio acquired a new position in Jagged Peak Energy in the 1st quarter valued at approximately $122,000. Dynamic Technology Lab Private Ltd acquired a new position in Jagged Peak Energy in the 2nd quarter valued at approximately $153,000. Finally, Harbor Advisors LLC acquired a new position in Jagged Peak Energy in the 1st quarter valued at approximately $196,000. Institutional investors and hedge funds own 17.17% 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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