Jefferies Group LLC Begins Coverage on Jagged Peak Energy Inc. (JAG)
Jefferies Group LLC began coverage on shares of Jagged Peak Energy Inc. (NYSE:JAG) in a research report released on Monday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $14.00 target price on the mining company’s stock. Jefferies Group also issued estimates for Jagged Peak Energy’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.27 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.18 EPS, FY2018 earnings at $0.59 EPS, Q1 2019 earnings at $0.22 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.25 EPS and FY2019 earnings at $0.97 EPS.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets upgraded Jagged Peak Energy from a market perform rating to an outperform rating and set a $17.00 target price for the company in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Jagged Peak Energy from a hold rating to a sell rating in a research report on Wednesday, July 26th. Royal Bank Of Canada set a $17.00 price objective on Jagged Peak Energy and gave the company a buy rating in a research report on Thursday, August 24th. Citigroup Inc. set a $19.00 price objective on Jagged Peak Energy and gave the company a buy rating in a research report on Tuesday, August 15th. Finally, KLR Group began coverage on Jagged Peak Energy in a research report on Monday, June 19th. They set a buy rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Jagged Peak Energy has a consensus rating of Buy and a consensus target price of $17.61.
Jagged Peak Energy (JAG) traded down 0.43% during trading on Monday, reaching $13.90. The company had a trading volume of 122,420 shares. The company has a 50-day moving average of $13.23 and a 200-day moving average of $13.23. Jagged Peak Energy has a 52-week low of $10.96 and a 52-week high of $15.19. The firm’s market capitalization is $2.96 billion.
Jagged Peak Energy (NYSE:JAG) last released its earnings results on Wednesday, August 9th. The mining company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $53.10 million during the quarter, compared to analysts’ expectations of $55.12 million. Jagged Peak Energy’s quarterly revenue was up 175.1% compared to the same quarter last year. Analysts expect that Jagged Peak Energy will post $0.08 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in JAG. Legal & General Group Plc raised its stake in Jagged Peak Energy by 61.2% during the 2nd quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock valued at $102,000 after purchasing an additional 2,924 shares during the period. UBS Group AG acquired a new stake in Jagged Peak Energy during the 1st quarter valued at $111,000. Strs Ohio acquired a new stake in Jagged Peak Energy during the 1st quarter valued at $122,000. Dynamic Technology Lab Private Ltd acquired a new stake in Jagged Peak Energy during the 2nd quarter valued at $153,000. Finally, Harbor Advisors LLC acquired a new stake in Jagged Peak Energy during the 1st quarter valued at $196,000. 17.10% of the stock is currently owned by 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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