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.
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.
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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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