Jagged Peak Energy Inc (NYSE:JAG)’s share price dropped 3.1% on Wednesday . The stock traded as low as $7.83 and last traded at $7.79, approximately 609,805 shares changed hands during trading. A decline of 62% from the average daily volume of 1,590,695 shares. The stock had previously closed at $8.04.
A number of brokerages recently issued reports on JAG. ValuEngine upgraded shares of Jagged Peak Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th. Williams Capital reissued a “buy” rating and issued a $11.00 target price on shares of Jagged Peak Energy in a report on Thursday, August 22nd. Nomura started coverage on Jagged Peak Energy in a report on Tuesday, July 9th. They issued an “overweight” rating on the stock. Piper Jaffray Companies set a $10.00 target price on Jagged Peak Energy and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Bank of America lowered Jagged Peak Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $9.00 in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Jagged Peak Energy presently has an average rating of “Hold” and a consensus price target of $12.92.
The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.60 billion, a P/E ratio of 12.15, a P/E/G ratio of 10.71 and a beta of 1.08. The company’s 50-day simple moving average is $6.91 and its 200 day simple moving average is $8.85.
In related news, insider Shonn D. Stahlecker sold 8,000 shares of Jagged Peak Energy stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.46, for a total transaction of $67,680.00. Following the transaction, the insider now owns 460,120 shares of the company’s stock, valued at approximately $3,892,615.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Jagged Peak Energy in the second quarter valued at about $590,000. Luminus Management LLC increased its stake in shares of Jagged Peak Energy by 953.7% in the second quarter. Luminus Management LLC now owns 1,580,498 shares of the mining company’s stock valued at $13,071,000 after buying an additional 1,430,498 shares during the period. Royal Bank of Canada increased its stake in shares of Jagged Peak Energy by 5,513.3% in the second quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock valued at $66,000 after buying an additional 7,884 shares during the period. Eaton Vance Management increased its stake in shares of Jagged Peak Energy by 33.5% in the second quarter. Eaton Vance Management now owns 211,548 shares of the mining company’s stock valued at $1,750,000 after buying an additional 53,093 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in Jagged Peak Energy in the second quarter valued at approximately $2,178,000. Hedge funds and other institutional investors own 29.62% of the company’s stock.
About Jagged Peak Energy (NYSE:JAG)
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.
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