Jagged Peak Energy Inc. (NYSE:JAG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Jagged Peak Energy Inc. is an oil and natural gas company. It focused 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. Jagged Peak Energy Inc. is based in Denver, United States. “

Several other research analysts also recently issued reports on JAG. BMO Capital Markets set a $15.00 price objective on Jagged Peak Energy and gave the company a “hold” rating in a research note on Monday, May 15th. J P Morgan Chase & Co lowered their price objective on Jagged Peak Energy from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, May 31st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Jagged Peak Energy in a research note on Friday, June 2nd. Royal Bank Of Canada set a $19.00 price objective on Jagged Peak Energy and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, KLR Group initiated coverage on Jagged Peak Energy in a research note on Monday, June 19th. They issued a “buy” rating and a $21.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.75.

Jagged Peak Energy (NYSE:JAG) opened at 11.77 on Friday. The stock has a 50 day moving average of $12.85 and a 200 day moving average of $12.84. Jagged Peak Energy has a 52 week low of $10.96 and a 52 week high of $15.19. The company’s market cap is $2.51 billion.

Jagged Peak Energy (NYSE:JAG) last released its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The firm had revenue of $53.10 million during the quarter, compared to the consensus estimate of $55.12 million. Jagged Peak Energy’s quarterly revenue was up 175.1% on a year-over-year basis. Equities research analysts predict that Jagged Peak Energy will post $0.08 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in shares of Jagged Peak Energy by 6.6% during the 2nd 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 in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Jagged Peak Energy by 3.9% during the 2nd 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Jagged Peak Energy by 7.3% during the 2nd 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 in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Jagged Peak Energy during the 1st quarter worth approximately $27,203,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Jagged Peak Energy by 60.2% during the 2nd 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 in the last quarter. 17.10% of the stock is owned by institutional investors and hedge funds.

About Jagged Peak Energy

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.

Analyst Recommendations for Jagged Peak Energy (NYSE:JAG)

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