Jagged Peak Energy Inc.’s (NYSE:JAG) Lock-Up Period To End on July 26th
Jagged Peak Energy’s (NYSE:JAG) lock-up period will end on Wednesday, July 26th. Jagged Peak Energy had issued 31,599,334 shares in its IPO on January 27th. The total size of the offering was $473,990,010 based on an initial share price of $15.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Several research analysts have recently weighed in on the company. Scotiabank reiterated a “hold” rating on shares of Jagged Peak Energy in a report on Monday, April 24th. Royal Bank Of Canada set a $19.00 price target on Jagged Peak Energy and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Zacks Investment Research cut Jagged Peak Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. BMO Capital Markets set a $15.00 price objective on Jagged Peak Energy and gave the stock a “hold” rating in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co cut their price objective on Jagged Peak Energy from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.88.
Shares of Jagged Peak Energy (JAG) traded up 2.20% during midday trading on Friday, reaching $12.10. 696,651 shares of the company were exchanged. The stock’s market capitalization is $2.58 billion. Jagged Peak Energy has a 52-week low of $10.96 and a 52-week high of $15.19. The company’s 50-day moving average price is $13.37 and its 200 day moving average price is $13.03.
Jagged Peak Energy (NYSE:JAG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $53.10 million for the quarter, compared to analyst estimates of $55.12 million. The business’s quarterly revenue was up 175.1% compared to the same quarter last year. On average, equities analysts predict that Jagged Peak Energy will post $0.08 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Boston Partners boosted its position in Jagged Peak Energy by 6.6% in the second quarter. Boston Partners now owns 6,136,033 shares of the mining company’s stock worth $81,916,000 after buying an additional 378,822 shares during the period. Franklin Resources Inc. boosted its stake in shares of Jagged Peak Energy by 3.9% in the second quarter. Franklin Resources Inc. now owns 2,724,540 shares of the mining company’s stock worth $36,373,000 after buying an additional 101,400 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Jagged Peak Energy by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,580,145 shares of the mining company’s stock worth $34,445,000 after buying an additional 175,591 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Jagged Peak Energy during the first quarter worth about $27,203,000. Finally, Citadel Advisors LLC boosted its stake in shares of Jagged Peak Energy by 60.2% in the second quarter. Citadel Advisors LLC now owns 1,498,739 shares of the mining company’s stock worth $20,008,000 after buying an additional 563,031 shares during the last quarter. 17.20% of the stock is owned by hedge funds and other institutional investors.
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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