Zacks Investment Research Lowers Jagged Peak Energy Inc. (NYSE:JAG) to Hold

Zacks Investment Research lowered shares of Jagged Peak Energy Inc. (NYSE:JAG) from a buy rating to a hold rating in a research report sent 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. “

JAG has been the subject of several other reports. Stifel Nicolaus initiated coverage on Jagged Peak Energy in a research note on Wednesday, March 15th. They set a buy rating and a $15.00 price target for the company. Credit Suisse Group dropped their price target on Jagged Peak Energy from $20.00 to $19.00 and set an outperform rating for the company in a research note on Tuesday, March 28th. Scotiabank restated a hold rating on shares of Jagged Peak Energy in a research note on Monday, April 24th. Royal Bank Of Canada restated a buy rating and set a $20.00 price target on shares of Jagged Peak Energy in a research note on Friday, March 24th. Finally, KLR Group initiated coverage on Jagged Peak Energy in a research note on Monday, June 19th. They set a buy rating and a $21.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Jagged Peak Energy currently has an average rating of Buy and an average target price of $17.75.

Shares of Jagged Peak Energy (JAG) traded down 0.85% during trading on Wednesday, reaching $14.01. The company had a trading volume of 313,660 shares. Jagged Peak Energy has a 52 week low of $10.96 and a 52 week high of $15.19. The firm has a 50-day moving average of $13.00 and a 200 day moving average of $12.95. The firm’s market capitalization is $2.98 billion.

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Several large investors have recently modified their holdings of JAG. UBS Group AG bought a new stake in shares of Jagged Peak Energy during the first quarter valued at $111,000. Strs Ohio bought a new stake in shares of Jagged Peak Energy during the first quarter valued at $122,000. Harbor Advisors LLC bought a new stake in shares of Jagged Peak Energy during the first quarter valued at $196,000. Bank of America Corp DE bought a new stake in shares of Jagged Peak Energy during the first quarter valued at $206,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Jagged Peak Energy during the first quarter valued at $242,000. 17.07% of the stock is owned by institutional investors.

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.

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