Jones Energy, Inc. (JONE) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Jones Energy, Inc. (NYSE:JONE) from a buy rating to a hold rating in a research note released on Tuesday, July 25th.

According to Zacks, “Jones Energy, Inc. is an independent oil and gas company. It engages in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Jones Energy, Inc. is based in Austin, Texas. “

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus reaffirmed a buy rating and issued a $5.00 price target on shares of Jones Energy in a report on Monday, April 17th. Seaport Global Securities cut Jones Energy from a buy rating to a neutral rating and cut their price target for the company from $5.00 to $1.50 in a report on Wednesday, June 21st. Barclays PLC reaffirmed an underweight rating and issued a $2.00 price target (down previously from $3.00) on shares of Jones Energy in a report on Saturday, April 22nd. Finally, J P Morgan Chase & Co cut Jones Energy from an overweight rating to a neutral rating and set a $1.50 price target for the company. in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Jones Energy currently has an average rating of Hold and a consensus target price of $3.91.

Shares of Jones Energy (NYSE JONE) traded up 9.52% during trading on Tuesday, hitting $1.15. The stock had a trading volume of 1,079,294 shares. Jones Energy has a one year low of $0.90 and a one year high of $5.34. The stock’s 50-day moving average price is $1.38 and its 200-day moving average price is $2.27. The company’s market cap is $83.67 million.

Jones Energy (NYSE:JONE) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.30. Jones Energy had a positive return on equity of 0.09% and a negative net margin of 79.19%. The business had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. The firm’s revenue was up 67.0% compared to the same quarter last year. On average, equities research analysts forecast that Jones Energy will post ($0.32) EPS for the current fiscal year.

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In related news, President Mike Mcconnell sold 38,927 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $1.95, for a total transaction of $75,907.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Niccum sold 40,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $1.91, for a total value of $76,400.00. The disclosure for this sale can be found here. Corporate insiders own 37.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in shares of Jones Energy during the second quarter worth approximately $104,000. Bank of America Corp DE increased its position in Jones Energy by 382.6% in the first quarter. Bank of America Corp DE now owns 41,062 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 32,554 shares during the period. Parametric Portfolio Associates LLC increased its position in Jones Energy by 11.1% in the first quarter. Parametric Portfolio Associates LLC now owns 41,601 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 4,170 shares during the period. Highbridge Capital Management LLC increased its position in Jones Energy by 4.3% in the first quarter. Highbridge Capital Management LLC now owns 42,280 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 1,735 shares during the period. Finally, Q Global Advisors LLC bought a new position in Jones Energy during the second quarter worth $146,000.

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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