Jagged Peak Energy (NYSE:JAG) has been assigned a $18.00 price objective by analysts at Royal Bank of Canada in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the mining company’s stock. Royal Bank of Canada’s target price points to a potential upside of 18.19% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. BMO Capital Markets set a $18.00 target price on shares of Jagged Peak Energy and gave the company a “buy” rating in a report on Tuesday, October 10th. Bank of America assumed coverage on shares of Jagged Peak Energy in a report on Monday, October 16th. They issued a “buy” rating for the company. Credit Suisse Group started coverage on shares of Jagged Peak Energy in a report on Monday, December 11th. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Imperial Capital started coverage on shares of Jagged Peak Energy in a research note on Thursday, October 12th. They issued an “outperform” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.61.
Shares of Jagged Peak Energy (JAG) opened at $15.23 on Wednesday. Jagged Peak Energy has a 1-year low of $10.96 and a 1-year high of $15.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $3,132.21 and a P/E ratio of 77.42.
In related news, CEO Joseph N. Jaggers sold 58,844 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $15.28, for a total transaction of $899,136.32. Following the completion of the transaction, the chief executive officer now owns 5,043,681 shares in the company, valued at $77,067,445.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shonn D. Stahlecker sold 100,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 372,986 shares of the company’s stock, valued at approximately $5,609,709.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,500 shares of company stock valued at $2,504,640.
Several hedge funds have recently modified their holdings of the stock. Boston Partners grew its stake in shares of Jagged Peak Energy by 1.4% during the third quarter. Boston Partners now owns 6,219,011 shares of the mining company’s stock worth $84,951,000 after purchasing an additional 82,978 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Jagged Peak Energy by 3.9% during the second quarter. Franklin Resources Inc. now owns 2,724,540 shares of the mining company’s stock worth $36,373,000 after purchasing an additional 101,400 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Jagged Peak Energy by 7.3% during the second quarter. Vanguard Group Inc. now owns 2,580,145 shares of the mining company’s stock worth $34,445,000 after purchasing an additional 175,591 shares in the last quarter. Citadel Advisors LLC lifted its position in Jagged Peak Energy by 60.2% in the second quarter. Citadel Advisors LLC now owns 1,498,739 shares of the mining company’s stock valued at $20,008,000 after acquiring an additional 563,031 shares during the last quarter. Finally, State Street Corp lifted its position in Jagged Peak Energy by 204.8% in the second quarter. State Street Corp now owns 1,307,728 shares of the mining company’s stock valued at $17,454,000 after acquiring an additional 878,710 shares during the last quarter. Hedge funds and other institutional investors own 21.26% of the company’s stock.
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.
