Credit Suisse Group Initiates Coverage on Jagged Peak Energy (JAG)

Credit Suisse Group initiated coverage on shares of Jagged Peak Energy (NYSE:JAG) in a report issued on Monday. The brokerage set a “neutral” rating and a $16.00 price target on the mining company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 11.97% from the stock’s previous close.

Several other equities analysts have also recently issued reports on JAG. Citigroup set a $19.00 price target on shares of Jagged Peak Energy and gave the company a “buy” rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada set a $17.00 price target on shares of Jagged Peak Energy and gave the company a “buy” rating in a research report on Thursday, August 24th. ValuEngine cut shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Seaport Global Securities initiated coverage on shares of Jagged Peak Energy in a research report on Thursday, September 28th. They set a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $17.56.

Jagged Peak Energy (NYSE:JAG) opened at $14.29 on Monday. Jagged Peak Energy has a 52-week low of $10.96 and a 52-week high of $15.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $3,021.49 and a PE ratio of 74.68.

Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Jagged Peak Energy had a negative net margin of 200.39% and a positive return on equity of 6.80%. The company had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $72.50 million. The business’s quarterly revenue was up 219.3% compared to the same quarter last year. research analysts forecast that Jagged Peak Energy will post 0.28 EPS for the current fiscal year.

In related news, CEO Joseph N. Jaggers sold 6,656 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $15.25, for a total transaction of $101,504.00. Following the sale, the chief executive officer now owns 5,123,908 shares of the company’s stock, valued at $78,139,597. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shonn D. Stahlecker sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 372,986 shares in the company, valued at approximately $5,609,709.44. The disclosure for this sale can be found here. Insiders have sold 165,500 shares of company stock worth $2,504,640 in the last three months.

Several hedge funds and other institutional investors have recently modified their holdings of JAG. Legal & General Group Plc lifted its stake in shares of Jagged Peak Energy by 61.2% in the second 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Jagged Peak Energy in the second quarter worth approximately $153,000. Trexquant Investment LP bought a new position in shares of Jagged Peak Energy in the third quarter worth approximately $205,000. Bank of America Corp DE bought a new position in shares of Jagged Peak Energy in the first quarter worth approximately $206,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Jagged Peak Energy by 9.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 16,647 shares of the mining company’s stock worth $222,000 after buying an additional 1,375 shares in the last quarter. Hedge funds and other institutional investors own 21.26% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Credit Suisse Group Initiates Coverage on Jagged Peak Energy (JAG)” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://stocknewstimes.com/2017/12/13/credit-suisse-group-initiates-coverage-on-jagged-peak-energy-jag.html.

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.

Analyst Recommendations for Jagged Peak Energy (NYSE:JAG)

Receive News & Ratings for Jagged Peak Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jagged Peak Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply