Bank of America Lowers Jagged Peak Energy (NYSE:JAG) to Neutral

Bank of America downgraded shares of Jagged Peak Energy (NYSE:JAG) from a buy rating to a neutral rating in a research report released on Tuesday, BenzingaRatingsTable reports. Bank of America currently has $9.00 price target on the mining company’s stock, down from their prior price target of $10.00.

Other analysts also recently issued reports about the stock. TheStreet cut shares of Jagged Peak Energy from a c- rating to a d+ rating in a research note on Wednesday, June 12th. ValuEngine raised shares of Jagged Peak Energy from a strong sell rating to a sell rating in a research note on Thursday, September 5th. Nomura initiated coverage on shares of Jagged Peak Energy in a research note on Tuesday, July 9th. They issued an overweight rating for the company. Piper Jaffray Companies set a $10.00 target price on shares of Jagged Peak Energy and gave the company a buy rating in a research note on Friday, August 16th. Finally, Barclays decreased their target price on shares of Jagged Peak Energy from $10.00 to $8.00 and set an equal weight rating for the company in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $12.92.

Shares of NYSE JAG traded down $0.07 during midday trading on Tuesday, reaching $7.35. The company’s stock had a trading volume of 25,295 shares, compared to its average volume of 1,591,815. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Jagged Peak Energy has a fifty-two week low of $5.80 and a fifty-two week high of $14.74. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 11.06 and a beta of 1.08. The stock has a 50 day simple moving average of $6.84 and a 200-day simple moving average of $8.91.

Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings data on Thursday, August 8th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Jagged Peak Energy had a net margin of 18.73% and a return on equity of 12.36%. The business had revenue of $146.80 million during the quarter, compared to analyst estimates of $143.30 million. During the same quarter last year, the business earned $0.20 earnings per share. Jagged Peak Energy’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities analysts anticipate that Jagged Peak Energy will post 0.51 EPS for the current year.

In other Jagged Peak Energy news, insider Shonn D. Stahlecker sold 8,000 shares of Jagged Peak Energy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $6.69, for a total transaction of $53,520.00. Following the completion of the transaction, the insider now directly owns 452,120 shares of the company’s stock, valued at $3,024,682.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of JAG. Luminus Management LLC lifted its holdings in shares of Jagged Peak Energy by 953.7% during the second quarter. Luminus Management LLC now owns 1,580,498 shares of the mining company’s stock worth $13,071,000 after buying an additional 1,430,498 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Jagged Peak Energy during the first quarter worth $3,384,000. Westwood Holdings Group Inc. lifted its holdings in shares of Jagged Peak Energy by 21.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,844,000 shares of the mining company’s stock worth $15,250,000 after buying an additional 319,865 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Jagged Peak Energy by 33.9% during the second quarter. Northern Trust Corp now owns 1,102,810 shares of the mining company’s stock worth $9,120,000 after buying an additional 278,906 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Jagged Peak Energy by 1,524.4% during the second quarter. JPMorgan Chase & Co. now owns 297,180 shares of the mining company’s stock worth $2,441,000 after buying an additional 278,885 shares in the last quarter. 29.62% of the stock is owned by institutional investors.

Jagged Peak Energy Company Profile

Jagged Peak Energy Inc operates as an independent oil and natural gas company. The company focuses 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. As of December 31, 2018, it held an 87% average working interest in approximately 79,500 net acres with an estimated net proved reserves of 118,890 thousand barrel of oil equivalent, as well as owned a 89% average working interest in 143 net productive wells.

See Also: Convertible Shares

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.