Jones Energy (JONE) Bonds Rise 1.5% During Trading
An issue of Jones Energy Inc (NYSE:JONE) bonds rose 1.5% as a percentage of their face value during trading on Wednesday. The debt issue has a 6.75% coupon and is set to mature on April 1, 2022. The debt is now trading at $77.00 and was trading at $76.50 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
JONE has been the subject of several research analyst reports. Barclays lowered their target price on shares of Jones Energy from $1.50 to $0.50 and set an “underweight” rating for the company in a research note on Monday, November 20th. Zacks Investment Research lowered shares of Jones Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. ValuEngine lowered shares of Jones Energy from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Stephens lowered shares of Jones Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Jones Energy from a “neutral” rating to an “underweight” rating in a research note on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Jones Energy has a consensus rating of “Hold” and a consensus price target of $1.88.
Jones Energy Inc (NYSE JONE) opened at $1.34 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07. Jones Energy Inc has a 12 month low of $0.73 and a 12 month high of $5.05.
In other news, major shareholder Metalmark Capital Ii Llc sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1.30, for a total value of $97,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,854,800 shares of company stock valued at $2,139,676. Insiders own 37.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of JONE. Q Global Advisors LLC lifted its stake in Jones Energy by 4,993.7% in the third quarter. Q Global Advisors LLC now owns 4,663,124 shares of the oil and gas producer’s stock worth $8,953,000 after acquiring an additional 4,571,577 shares during the last quarter. State Street Corp lifted its stake in Jones Energy by 2.7% in the second quarter. State Street Corp now owns 1,000,217 shares of the oil and gas producer’s stock worth $1,603,000 after acquiring an additional 26,539 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Jones Energy by 9.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 779,726 shares of the oil and gas producer’s stock worth $1,248,000 after acquiring an additional 65,338 shares during the last quarter. Contrarian Capital Management L.L.C. purchased a new position in Jones Energy in the third quarter worth approximately $1,430,000. Finally, Northern Trust Corp lifted its stake in Jones Energy by 4.6% in the second quarter. Northern Trust Corp now owns 735,081 shares of the oil and gas producer’s stock worth $1,176,000 after acquiring an additional 32,093 shares during the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.
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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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