Jagged Peak Energy Inc. (NYSE:JAG) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Jagged Peak Energy Inc. (NYSE:JAG) from a hold rating to a sell rating in a research report released on Wednesday, July 26th.

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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 commented on JAG. Royal Bank Of Canada set a $19.00 target price on Jagged Peak Energy and gave the company a buy rating in a report on Saturday, June 3rd. Scotiabank set a $13.00 target price on Jagged Peak Energy and gave the company a hold rating in a report on Saturday, July 1st. BMO Capital Markets set a $14.00 target price on Jagged Peak Energy and gave the company a hold rating in a report on Monday, June 26th. KLR Group assumed coverage on Jagged Peak Energy in a report on Monday, June 19th. They set a buy rating and a $21.00 target price on the stock. Finally, Citigroup Inc. dropped their target price on Jagged Peak Energy from $19.00 to $18.00 and set a buy rating on the stock in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $17.75.

Jagged Peak Energy (JAG) opened at 12.97 on Wednesday. The firm’s market capitalization is $2.76 billion. The stock’s 50 day moving average price is $13.41 and its 200-day moving average price is $13.09. Jagged Peak Energy has a 12 month low of $10.96 and a 12 month high of $15.19.

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A number of large investors have recently modified their holdings of JAG. Principal Financial Group Inc. acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $2,282,000. Spark Investment Management LLC acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $1,427,000. Neuberger Berman Group LLC acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $606,000. JPMorgan Chase & Co. acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $11,582,000. Finally, Oxford Asset Management acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $1,337,000. Hedge funds and other institutional investors own 17.03% 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.

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