Jagged Peak Energy Inc. (JAG) Rating Lowered to Sell at Zacks Investment Research

Jagged Peak Energy Inc. (NYSE:JAG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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 a number of other research reports. Royal Bank Of Canada set a $17.00 price target on Jagged Peak Energy and gave the company a “buy” rating in a research report on Thursday, August 24th. ValuEngine lowered Jagged Peak Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $19.00 price target on shares of Jagged Peak Energy in a research report on Friday, June 2nd. KLR Group started coverage on Jagged Peak Energy in a research report on Monday, June 19th. They issued a “buy” rating and a $21.00 price target for the company. Finally, BMO Capital Markets set a $14.00 price target on Jagged Peak Energy and gave the company a “hold” rating in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $17.75.

Jagged Peak Energy (NYSE:JAG) opened at 11.77 on Friday. Jagged Peak Energy has a 52 week low of $10.96 and a 52 week high of $15.19. The company has a 50-day moving average of $12.85 and a 200 day moving average of $12.84. The firm’s market cap is $2.51 billion.

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

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A number of hedge funds and other institutional investors have recently made changes to their positions in JAG. Strs Ohio acquired a new stake in Jagged Peak Energy during the 1st quarter worth about $122,000. Wells Fargo & Company MN acquired a new stake in Jagged Peak Energy during the 1st quarter worth about $757,000. Bank of New York Mellon Corp acquired a new stake in Jagged Peak Energy during the 1st quarter worth about $1,339,000. TD Asset Management Inc. acquired a new stake in Jagged Peak Energy during the 1st quarter worth about $983,000. Finally, Ameriprise Financial Inc. acquired a new stake in Jagged Peak Energy during the 1st quarter worth about $5,631,000. Hedge funds and other institutional investors own 17.10% of the company’s stock.

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.

Analyst Recommendations for Jagged Peak Energy (NYSE:JAG)

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