Analysts at Jefferies Group LLC started coverage on shares of Jagged Peak Energy Inc. (NYSE:JAG) in a research report issued to clients and investors on Monday. The firm set a “hold” rating and a $14.00 price target on the mining company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 1.82% from the stock’s previous close.
Several other research firms have also commented on JAG. Zacks Investment Research lowered Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Citigroup Inc. decreased their price objective on Jagged Peak Energy from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 13th. Seaport Global Securities began coverage on Jagged Peak Energy in a report on Thursday, September 28th. They issued a “buy” rating and a $16.00 price objective for the company. BMO Capital Markets raised Jagged Peak Energy from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a report on Wednesday, July 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.59.
Jagged Peak Energy (JAG) opened at 13.75 on Monday. The stock’s 50 day moving average price is $13.20 and its 200-day moving average price is $13.20. The stock’s market capitalization is $2.93 billion. Jagged Peak Energy has a 12-month low of $11.71 and a 12-month high of $15.08.
Jagged Peak Energy (NYSE:JAG) last posted its earnings results on Wednesday, August 9th. The mining company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $53.10 million during the quarter, compared to the consensus estimate of $55.12 million. Jagged Peak Energy’s revenue for the quarter was up 175.1% compared to the same quarter last year. Analysts expect that Jagged Peak Energy will post $0.08 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of JAG. Strs Ohio bought a new position in Jagged Peak Energy during the 1st quarter valued at $122,000. Wells Fargo & Company MN bought a new position in Jagged Peak Energy during the 1st quarter valued at $757,000. Bank of New York Mellon Corp bought a new position in Jagged Peak Energy during the 1st quarter valued at $1,339,000. Ameriprise Financial Inc. bought a new position in Jagged Peak Energy during the 1st quarter valued at $5,631,000. Finally, JPMorgan Chase & Co. bought a new position in Jagged Peak Energy during the 1st quarter valued at $11,582,000. 17.10% of the stock is owned by hedge funds and other institutional investors.
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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