Jagged Peak Energy (NYSE:JAG) Stock Price Down 3.1%

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.

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

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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