Jones Energy Inc. (JONE) Upgraded to “Buy” at Stifel Nicolaus
Jones Energy Inc. (NYSE:JONE) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $6.00 target price on the stock, up from their previous target price of $3.00. Stifel Nicolaus’ price objective suggests a potential upside of 53.85% from the company’s previous close.
A number of other analysts have also recently commented on the stock. Seaport Global Securities started coverage on shares of Jones Energy in a research note on Tuesday, August 30th. They set an “accumulate” rating and a $3.50 price target on the stock. Barclays PLC cut shares of Jones Energy from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $3.50 to $3.00 in a research note on Wednesday, August 10th. Imperial Capital dropped their price target on shares of Jones Energy from $5.50 to $3.75 and set an “outperform” rating on the stock in a research note on Monday, August 22nd. Finally, Zacks Investment Research cut shares of Jones Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Jones Energy presently has a consensus rating of “Hold” and an average target price of $5.03.
Shares of Jones Energy (NYSE:JONE) opened at 3.90 on Wednesday. Jones Energy has a 12-month low of $1.16 and a 12-month high of $6.05. The firm has a 50-day moving average price of $3.02 and a 200 day moving average price of $3.72. The firm has a market cap of $127.99 million, a price-to-earnings ratio of 12.58 and a beta of 2.99.
Jones Energy (NYSE:JONE) last released its earnings results on Wednesday, August 3rd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.04. Jones Energy had a negative return on equity of 0.73% and a net margin of 6.80%. The firm had revenue of $29.10 million for the quarter, compared to the consensus estimate of $44.03 million. During the same period in the prior year, the business earned ($0.02) EPS. The company’s quarterly revenue was down 46.0% on a year-over-year basis. On average, equities research analysts anticipate that Jones Energy will post ($0.24) earnings per share for the current fiscal year.
In other news, major shareholder Advisors L.L.C. Jvl purchased 9,025,270 shares of the company’s stock in a transaction on Friday, August 26th. The stock was acquired at an average price of $2.77 per share, with a total value of $24,999,997.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 50.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Jones Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 196,177 shares of the company’s stock valued at $653,000 after buying an additional 3,194 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Jones Energy during the first quarter valued at approximately $218,000. State Street Corp boosted its stake in Jones Energy by 5.0% in the first quarter. State Street Corp now owns 347,927 shares of the company’s stock valued at $1,156,000 after buying an additional 16,686 shares in the last quarter. Globeflex Capital L P bought a new stake in Jones Energy during the second quarter valued at approximately $424,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Jones Energy by 7.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 476,815 shares of the company’s stock valued at $1,964,000 after buying an additional 31,914 shares in the last quarter. 71.91% of the stock is owned by institutional investors and hedge funds.
Jones Energy Company Profile
Jones Energy, Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma.
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