Zacks Investment Research Downgrades Jagged Peak Energy Inc. (JAG) to Sell

Zacks Investment Research downgraded shares of Jagged Peak Energy Inc. (NYSE:JAG) from a hold rating to a sell rating in a research note released on Saturday.

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 analysts have also commented on the stock. BMO Capital Markets raised shares of Jagged Peak Energy from a market perform rating to an outperform rating and set a $17.00 price target for the company in a research report on Wednesday, July 12th. Credit Suisse Group reissued an outperform rating and set a $19.00 price target on shares of Jagged Peak Energy in a research report on Friday, June 2nd. J P Morgan Chase & Co decreased their price target on shares of Jagged Peak Energy from $19.00 to $16.00 and set an overweight rating for the company in a research report on Wednesday, May 31st. 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. Finally, Citigroup Inc. decreased their price target on shares of Jagged Peak Energy from $19.00 to $18.00 and set a buy rating for the company in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Jagged Peak Energy presently has a consensus rating of Buy and a consensus price target of $17.75.

Shares of Jagged Peak Energy (JAG) opened at 12.13 on Friday. The company’s market capitalization is $2.58 billion. Jagged Peak Energy has a 1-year low of $11.71 and a 1-year high of $15.08. The firm’s 50-day moving average is $11.91 and its 200-day moving average is $13.40.

Jagged Peak Energy (NYSE:JAG) last released its quarterly 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 business had revenue of $53.10 million for the quarter, compared to analyst estimates of $55.12 million. The firm’s revenue for the quarter was up 175.1% compared to the same quarter last year. Analysts forecast that Jagged Peak Energy will post $0.08 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Jagged Peak Energy during the second quarter valued at about $153,000. The Manufacturers Life Insurance Company acquired a new position in shares of Jagged Peak Energy during the second quarter valued at about $340,000. BlueCrest Capital Management Ltd increased its holdings in shares of Jagged Peak Energy by 131.6% during the second quarter. BlueCrest Capital Management Ltd now owns 42,937 shares of the mining company’s stock valued at $573,000 after acquiring an additional 24,400 shares in the last quarter. State Street Corp increased its holdings in shares of Jagged Peak Energy by 204.8% during the second quarter. State Street Corp now owns 1,307,728 shares of the mining company’s stock valued at $17,454,000 after acquiring an additional 878,710 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in shares of Jagged Peak Energy during the second quarter valued at about $222,000. Hedge funds and other institutional investors own 17.10% of the company’s stock.

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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