Jagged Peak Energy’s (JAG) “Buy” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Jagged Peak Energy Inc. (NYSE:JAG) in a report released on Friday morning. Royal Bank Of Canada currently has a $17.00 target price on the mining company’s stock.

Other equities research analysts have also issued research reports about the stock. Citigroup Inc. set a $19.00 price target on shares of Jagged Peak Energy and gave the stock a buy rating in a research note on Tuesday, August 15th. BMO Capital Markets set a $18.00 price target on shares of Jagged Peak Energy and gave the stock a buy rating in a research note on Saturday, August 12th. Seaport Global Securities started coverage on shares of Jagged Peak Energy in a research note on Thursday, September 28th. They set a buy rating and a $16.00 price target for the company. Bank of America Corporation started coverage on shares of Jagged Peak Energy in a research note on Monday, October 16th. They set a buy rating for the company. Finally, Zacks Investment Research lowered shares of Jagged Peak Energy from a buy rating to a hold rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $17.61.

Shares of Jagged Peak Energy (NYSE:JAG) opened at $14.82 on Friday.

Jagged Peak Energy (NYSE:JAG) last posted its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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. The firm’s revenue for the quarter was up 175.1% on a year-over-year basis. analysts expect that Jagged Peak Energy will post 0.28 earnings per share for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in Jagged Peak Energy by 61.2% in the 2nd quarter. Legal & General Group Plc now owns 7,702 shares of the mining company’s stock worth $102,000 after buying an additional 2,924 shares during the period. UBS Group AG bought a new position in Jagged Peak Energy in the 1st quarter worth approximately $111,000. Dynamic Technology Lab Private Ltd bought a new position in Jagged Peak Energy in the 2nd quarter worth approximately $153,000. Bank of America Corp DE bought a new position in Jagged Peak Energy in the 1st quarter worth approximately $206,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Jagged Peak Energy by 9.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 16,647 shares of the mining company’s stock worth $222,000 after buying an additional 1,375 shares during the period. 17.17% of the stock is owned by institutional investors.

About Jagged Peak Energy

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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