Zacks Investment Research upgraded shares of Jones Energy, Inc. (NYSE:JONE) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $5.75 price target on the stock.
According to Zacks, “Jones Energy, Inc. is an independent oil and gas company. It engages in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Jones Energy, Inc. is based in Austin, Texas. “
Other research analysts have also recently issued reports about the company. Iberia Capital reissued an outperform rating and set a $9.00 price target on shares of Jones Energy in a research report on Monday, December 19th. Stephens assumed coverage on Jones Energy in a research report on Friday, December 16th. They set an overweight rating for the company. Finally, Stifel Nicolaus raised Jones Energy from a hold rating to a buy rating and increased their price target for the company from $3.00 to $6.00 in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Jones Energy currently has an average rating of Hold and a consensus target price of $5.08.
Shares of Jones Energy (NYSE:JONE) remained flat at $4.80 during mid-day trading on Tuesday. The company had a trading volume of 627,573 shares. The firm’s 50 day moving average is $4.82 and its 200 day moving average is $3.93. Jones Energy has a 52-week low of $1.16 and a 52-week high of $5.34. The firm’s market capitalization is $273.64 million.
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Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in Jones Energy by 7,447.7% in the third quarter. Wells Fargo & Company MN now owns 1,324,620 shares of the company’s stock worth $4,716,000 after buying an additional 1,307,070 shares during the period. BlackRock Fund Advisors raised its position in Jones Energy by 100.2% in the third quarter. BlackRock Fund Advisors now owns 1,616,762 shares of the company’s stock worth $5,756,000 after buying an additional 809,373 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Jones Energy by 156.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,222,235 shares of the company’s stock worth $4,351,000 after buying an additional 745,420 shares during the period. Penn Capital Management Co. Inc. bought a new position in Jones Energy during the third quarter worth approximately $2,463,000. Finally, Goodman Financial Corp raised its position in Jones Energy by 64.0% in the second quarter. Goodman Financial Corp now owns 1,607,556 shares of the company’s stock worth $6,623,000 after buying an additional 627,105 shares during the period.
Jones Energy Company Profile
Jones Energy, Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma.
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