Zacks Investment Research upgraded shares of Jagged Peak Energy Inc. (NYSE:JAG) from a sell rating to a hold rating in a research note issued to investors on Friday, September 1st.
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 equities research analysts also recently issued reports on the company. Royal Bank Of Canada set a $17.00 price objective on Jagged Peak Energy and gave the stock a buy rating in a report on Thursday, August 24th. Citigroup Inc. set a $19.00 price objective on Jagged Peak Energy and gave the stock a buy rating in a report on Tuesday, August 15th. BMO Capital Markets set a $18.00 price objective on Jagged Peak Energy and gave the stock a buy rating in a report on Saturday, August 12th. Scotiabank set a $13.00 price objective on Jagged Peak Energy and gave the stock a hold rating in a report on Saturday, July 1st. Finally, KLR Group started coverage on Jagged Peak Energy in a report on Monday, June 19th. They set a buy rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $17.75.
Jagged Peak Energy (NYSE JAG) traded down 1.83% on Friday, reaching $12.31. 3,280,301 shares of the company’s stock were exchanged. Jagged Peak Energy has a one year low of $11.71 and a one year high of $15.08. The stock’s market cap is $2.62 billion. The firm has a 50 day moving average of $12.27 and a 200-day moving average of $12.91.
Jagged Peak Energy (NYSE:JAG) last released its quarterly earnings results 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 company had revenue of $53.10 million during the quarter, compared to analysts’ expectations of $55.12 million. The company’s revenue for the quarter was up 175.1% compared to the same quarter last year. Equities research analysts forecast that Jagged Peak Energy will post $0.08 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in Jagged Peak Energy by 61.2% during the 2nd quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock worth $102,000 after buying an additional 2,924 shares during the last quarter. UBS Group AG bought a new position in Jagged Peak Energy during the 1st quarter worth $111,000. Strs Ohio bought a new position in Jagged Peak Energy during the 1st quarter worth $122,000. Dynamic Technology Lab Private Ltd bought a new position in Jagged Peak Energy during the 2nd quarter worth $153,000. Finally, Harbor Advisors LLC bought a new position in Jagged Peak Energy during the 1st quarter worth $196,000. Hedge funds and other institutional investors 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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