Jones Energy, Inc. (JONE) Debt Trading 4% Lower Insider Trade
An issue of Jones Energy, Inc. (NYSE:JONE) bonds fell 4% against their face value during trading on Thursday after an insider sold shares in the company. The high-yield issue of debt has a 6.75% coupon and is set to mature on April 1, 2022. The debt is now trading at $71.00 and was trading at $82.25 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price. Specifically, major shareholder Metalmark Capital Ii Llc sold 322,645 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $1.28, for a total value of $412,985.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 2,304,924 shares of company stock worth $3,189,190. Corporate insiders own 37.20% of the company’s stock.
A number of equities research analysts recently commented on the company. Stephens lowered Jones Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 8th. ValuEngine upgraded Jones Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Jones Energy from a “hold” rating to a “strong-buy” rating and set a $1.75 price target on the stock in a research report on Wednesday, October 11th. Finally, J P Morgan Chase & Co lowered Jones Energy from an “overweight” rating to a “neutral” rating and set a $1.50 price target on the stock. in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Jones Energy currently has an average rating of “Hold” and an average target price of $3.96.
The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.56 and a current ratio of 0.56.
About Jones Energy
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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