Jagged Peak Energy Inc. (JAG) Lifted to Hold at Zacks Investment Research

Jagged Peak Energy Inc. (NYSE:JAG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

A number of other equities analysts have also weighed in on JAG. J P Morgan Chase & Co cut their target price on shares of Jagged Peak Energy from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, May 31st. Credit Suisse Group reiterated an “outperform” rating and set a $19.00 target price on shares of Jagged Peak Energy in a research report on Friday, June 2nd. Royal Bank of Canada set a $19.00 target price on shares of Jagged Peak Energy and gave the stock a “buy” rating in a research report on Saturday, June 3rd. KLR Group initiated coverage on shares of Jagged Peak Energy in a research report on Monday, June 19th. They set a “buy” rating and a $21.00 target price for the company. Finally, BMO Capital Markets set a $14.00 target price on shares of Jagged Peak Energy and gave the stock a “hold” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.75.

Shares of Jagged Peak Energy (JAG) opened at 12.66 on Wednesday. The firm’s market cap is $2.70 billion. The firm has a 50-day moving average of $12.38 and a 200 day moving average of $12.38. Jagged Peak Energy has a 52 week low of $11.71 and a 52 week high of $15.08.

Jagged Peak Energy (NYSE:JAG) last issued 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 for the quarter, compared to analysts’ expectations of $55.12 million. Jagged Peak Energy’s revenue for the quarter was up 175.1% on a year-over-year basis. Equities research analysts predict that Jagged Peak Energy will post $0.08 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Jagged Peak Energy by 61.2% in the second quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock valued at $102,000 after acquiring an additional 2,924 shares during the period. UBS Group AG bought a new position in shares of Jagged Peak Energy in the first quarter valued at approximately $111,000. Strs Ohio bought a new position in shares of Jagged Peak Energy in the first quarter valued at approximately $122,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Jagged Peak Energy in the second quarter valued at approximately $153,000. Finally, Harbor Advisors LLC bought a new position in shares of Jagged Peak Energy in the first quarter valued at approximately $196,000. Institutional investors own 17.10% of the company’s stock.

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.

Analyst Recommendations for Jagged Peak Energy (NYSE:JAG)

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