Jagged Peak Energy (NYSE:JAG) released its quarterly earnings results on Friday. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03, Morningstar.com reports. Jagged Peak Energy had a return on equity of 14.55% and a net margin of 0.70%. The business had revenue of $155.40 million during the quarter, compared to analyst estimates of $144.71 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Jagged Peak Energy’s revenue for the quarter was up 120.4% on a year-over-year basis.
Shares of Jagged Peak Energy stock opened at $12.60 on Friday. Jagged Peak Energy has a 52 week low of $10.55 and a 52 week high of $16.55. The stock has a market capitalization of $2.78 billion, a PE ratio of 48.46 and a beta of -0.11. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62.
In other news, CFO Robert William Howard sold 31,250 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $13.19, for a total value of $412,187.50. Following the transaction, the chief financial officer now directly owns 2,042,923 shares in the company, valued at $26,946,154.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher Humber sold 25,000 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $14.12, for a total value of $353,000.00. Following the completion of the transaction, the executive vice president now owns 84,551 shares in the company, valued at $1,193,860.12. The disclosure for this sale can be found here. Insiders sold 118,750 shares of company stock worth $1,611,750 over the last 90 days. Company insiders own 1.50% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Boston Partners lifted its position in shares of Jagged Peak Energy by 67.0% in the second quarter. Boston Partners now owns 10,714,424 shares of the mining company’s stock worth $139,502,000 after buying an additional 4,299,224 shares in the last quarter. BlackRock Inc. lifted its position in shares of Jagged Peak Energy by 15.4% in the third quarter. BlackRock Inc. now owns 4,383,358 shares of the mining company’s stock worth $60,621,000 after buying an additional 585,978 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Jagged Peak Energy in the second quarter worth about $32,913,000. Northern Trust Corp lifted its position in shares of Jagged Peak Energy by 26.5% in the second quarter. Northern Trust Corp now owns 741,991 shares of the mining company’s stock worth $9,661,000 after buying an additional 155,408 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Jagged Peak Energy by 62.7% in the second quarter. Bank of America Corp DE now owns 511,507 shares of the mining company’s stock worth $6,661,000 after buying an additional 197,048 shares in the last quarter. Institutional investors own 33.59% of the company’s stock.
Several analysts have issued reports on the company. ValuEngine lowered Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered Jagged Peak Energy from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. National Alliance Securities assumed coverage on Jagged Peak Energy in a research report on Monday, October 22nd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Jagged Peak Energy from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. Finally, Barclays assumed coverage on Jagged Peak Energy in a research report on Wednesday, August 29th. They issued an “equal weight” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.18.
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, 2016, it held an 86% average working interest in approximately 75,200 net acres with an estimated net proved reserves of 82,358 thousand barrel of oil equivalent, as well as owned a 94% average working interest in 94 net productive wells.
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