Jagged Peak Energy (JAG) Downgraded by Tudor Pickering to “Hold”

Jagged Peak Energy (NYSE:JAG) was downgraded by analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada cut shares of Jagged Peak Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday. ValuEngine cut shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Credit Suisse Group initiated coverage on shares of Jagged Peak Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $16.00 target price for the company. Scotiabank set a $16.00 target price on shares of Jagged Peak Energy and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, BMO Capital Markets set a $17.00 target price on shares of Jagged Peak Energy and gave the company a “buy” rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.61.

Jagged Peak Energy (NYSE JAG) opened at $13.61 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2,953.35 and a PE ratio of -33.02. Jagged Peak Energy has a twelve month low of $10.96 and a twelve month high of $16.55.

Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $70.45 million during the quarter, compared to analysts’ expectations of $72.50 million. Jagged Peak Energy had a negative net margin of 200.39% and a positive return on equity of 6.80%. The firm’s revenue for the quarter was up 219.3% compared to the same quarter last year. sell-side analysts predict that Jagged Peak Energy will post 0.28 EPS for the current fiscal year.

In other Jagged Peak Energy news, CEO Joseph N. Jaggers sold 175,773 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $15.86, for a total value of $2,787,759.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shonn D. Stahlecker sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $15.04, for a total transaction of $1,504,000.00. Following the completion of the transaction, the insider now owns 372,986 shares of the company’s stock, valued at $5,609,709.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 391,246 shares of company stock valued at $6,070,480.

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in shares of 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 worth $102,000 after purchasing an additional 2,924 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Jagged Peak Energy in the second quarter worth approximately $153,000. Trexquant Investment LP bought a new position in shares of Jagged Peak Energy in the third quarter worth approximately $205,000. Voya Investment Management LLC bought a new position in shares of Jagged Peak Energy in the second quarter worth approximately $222,000. Finally, Nationwide Fund Advisors boosted its position in shares of Jagged Peak Energy by 177.0% in the second quarter. Nationwide Fund Advisors now owns 18,809 shares of the mining company’s stock worth $251,000 after purchasing an additional 12,018 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

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About Jagged Peak Energy

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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