Jagged Peak Energy Inc. (NYSE:JAG) Downgraded by Zacks Investment Research

Jagged Peak Energy Inc. (NYSE:JAG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, July 12th.

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 research analysts have also recently issued reports on JAG. Stifel Nicolaus initiated coverage on shares of Jagged Peak Energy in a research report on Wednesday, March 15th. They issued a “buy” rating and a $15.00 target price for the company. BMO Capital Markets reissued a “hold” rating and issued a $17.00 target price on shares of Jagged Peak Energy in a research report on Wednesday, March 22nd. UBS AG initiated coverage on shares of Jagged Peak Energy in a research report on Thursday, March 23rd. They issued a “buy” rating and a $16.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $20.00 target price on shares of Jagged Peak Energy in a research report on Friday, March 24th. Finally, Credit Suisse Group reduced their target price on shares of Jagged Peak Energy from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.75.

Shares of Jagged Peak Energy (NYSE JAG) opened at 12.79 on Wednesday. Jagged Peak Energy has a 52-week low of $10.96 and a 52-week high of $15.19. The stock has a 50 day moving average of $13.48 and a 200 day moving average of $13.09. The company’s market cap is $2.72 billion.

Jagged Peak Energy (NYSE:JAG) last announced its earnings results on Wednesday, August 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. The firm had revenue of $53.10 million for the quarter, compared to the consensus estimate of $55.12 million. Jagged Peak Energy’s revenue was up 175.1% on a year-over-year basis. On average, equities analysts anticipate that Jagged Peak Energy will post $0.08 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased 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 buying an additional 2,924 shares during the last quarter. UBS Group AG acquired a new position in shares of Jagged Peak Energy during the first quarter valued at approximately $111,000. Strs Ohio acquired a new position in shares of Jagged Peak Energy during the first quarter valued at approximately $122,000. Harbor Advisors LLC acquired a new position in shares of Jagged Peak Energy during the first quarter valued at approximately $196,000. Finally, Bank of America Corp DE acquired a new position in shares of Jagged Peak Energy during the first quarter valued at approximately $206,000. 17.03% of the stock is owned by hedge funds and other 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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