Jagged Peak Energy (NYSE:JAG) has been assigned a $10.00 target price by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the mining company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 44.30% from the company’s current price. Piper Jaffray Companies also issued estimates for Jagged Peak Energy’s Q3 2019 earnings at $0.14 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.86 EPS.
Other research analysts have also issued research reports about the stock. Nomura began coverage on shares of Jagged Peak Energy in a research note on Tuesday, July 9th. They set an “overweight” rating on the stock. Stifel Nicolaus set a $15.00 price target on shares of Jagged Peak Energy and gave the company a “buy” rating in a research note on Friday, May 10th. ValuEngine lowered shares of Jagged Peak Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. TheStreet lowered shares of Jagged Peak Energy from a “c-” rating to a “d+” rating in a research note on Wednesday, June 12th. Finally, Williams Capital began coverage on shares of Jagged Peak Energy in a research note on Monday, June 17th. They issued a “buy” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Jagged Peak Energy has an average rating of “Buy” and a consensus price target of $14.15.
Jagged Peak Energy stock traded up $0.41 during mid-day trading on Friday, reaching $6.93. 2,378,690 shares of the company traded hands, compared to its average volume of 1,372,195. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.49 and a quick ratio of 0.37. Jagged Peak Energy has a fifty-two week low of $5.80 and a fifty-two week high of $14.74. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 8.73 and a beta of 1.07. The firm’s fifty day moving average is $7.53 and its two-hundred day moving average is $9.38.
In other news, insider Shonn D. Stahlecker sold 8,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $8.46, for a total value of $67,680.00. Following the sale, the insider now owns 460,120 shares in the company, valued at $3,892,615.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 24,400 shares of company stock worth $191,628 in the last quarter. Company insiders own 0.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in JAG. Bank of Montreal Can lifted its holdings in Jagged Peak Energy by 1,314.3% during the second quarter. Bank of Montreal Can now owns 5,544 shares of the mining company’s stock valued at $45,000 after purchasing an additional 5,152 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Jagged Peak Energy by 5,513.3% in the second quarter. Royal Bank of Canada now owns 8,027 shares of the mining company’s stock worth $66,000 after buying an additional 7,884 shares in the last quarter. Quantamental Technologies LLC lifted its stake in shares of Jagged Peak Energy by 1,183.6% in the second quarter. Quantamental Technologies LLC now owns 8,985 shares of the mining company’s stock worth $74,000 after buying an additional 8,285 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Jagged Peak Energy in the second quarter worth about $79,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Jagged Peak Energy in the second quarter worth about $92,000. 29.33% of the stock is currently owned by hedge funds and other institutional investors.
About Jagged Peak Energy
Jagged Peak Energy Inc operates as an independent oil and natural gas company. The company focuses 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. As of December 31, 2018, it held an 87% average working interest in approximately 79,500 net acres with an estimated net proved reserves of 118,890 thousand barrel of oil equivalent, as well as owned a 89% average working interest in 143 net productive wells.
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