Seaport Global Securities Comments on Jagged Peak Energy Inc.’s FY2017 Earnings (JAG)
Jagged Peak Energy Inc. (NYSE:JAG) – Stock analysts at Seaport Global Securities decreased their FY2017 earnings per share estimates for shares of Jagged Peak Energy in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the mining company will earn $0.27 per share for the year, down from their prior estimate of $0.28. Seaport Global Securities has a “Buy” rating and a $16.00 price target on the stock. Seaport Global Securities also issued estimates for Jagged Peak Energy’s Q4 2017 earnings at $0.10 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.17 EPS and Q4 2018 earnings at $0.18 EPS.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Jagged Peak Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets set a $18.00 target price on Jagged Peak Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Bank of America assumed coverage on Jagged Peak Energy in a research report on Monday, October 16th. They issued a “buy” rating on the stock. Credit Suisse Group initiated coverage on Jagged Peak Energy in a research report on Monday, December 11th. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, Imperial Capital initiated coverage on Jagged Peak Energy in a research note on Thursday, October 12th. They set an “outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Jagged Peak Energy presently has an average rating of “Buy” and a consensus price target of $17.56.
Jagged Peak Energy (NYSE:JAG) last released its earnings results on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. Jagged Peak Energy had a positive return on equity of 6.80% and a negative net margin of 200.39%. The firm had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $72.50 million. The business’s quarterly revenue was up 219.3% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the stock. Boston Partners lifted its stake in shares of Jagged Peak Energy by 1.4% in the third quarter. Boston Partners now owns 6,219,011 shares of the mining company’s stock worth $84,951,000 after acquiring an additional 82,978 shares during the period. Franklin Resources Inc. increased its holdings in 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 purchasing an additional 101,400 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 175,591 shares in the last quarter. Citadel Advisors LLC increased its holdings in 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 purchasing an additional 563,031 shares in the last quarter. Finally, State Street Corp increased its holdings in Jagged Peak Energy by 204.8% in the second quarter. State Street Corp now owns 1,307,728 shares of the mining company’s stock worth $17,454,000 after purchasing an additional 878,710 shares in the last quarter. 21.26% of the stock is currently owned by institutional investors.
In related news, CEO Joseph N. Jaggers sold 58,844 shares of Jagged Peak Energy stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $15.28, for a total value of $899,136.32. Following the transaction, the chief executive officer now directly owns 5,043,681 shares of the company’s stock, valued at $77,067,445.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shonn D. Stahlecker sold 100,000 shares of Jagged Peak Energy stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $15.04, for a total value of $1,504,000.00. Following the completion of the transaction, the insider now directly owns 372,986 shares in the company, valued at $5,609,709.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,500 shares of company stock worth $2,504,640.
WARNING: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/12/20/seaport-global-securities-comments-on-jagged-peak-energy-inc-s-fy2017-earnings-jag.html.
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.
Receive News & Ratings for Jagged Peak Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jagged Peak Energy and related companies with MarketBeat.com's FREE daily email newsletter.