Jones Energy, Inc. (JONE) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Jones Energy, Inc. (NYSE:JONE) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $1.75 target price on the oil and gas producer’s stock.

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. “

Several other equities analysts also recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of Jones Energy from an overweight rating to a neutral rating and set a $1.50 price objective for the company. in a research note on Thursday, July 20th. ValuEngine downgraded shares of Jones Energy from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Finally, Seaport Global Securities downgraded shares of Jones Energy from a buy rating to a neutral rating and decreased their price objective for the company from $5.00 to $1.50 in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Jones Energy currently has an average rating of Hold and a consensus target price of $3.96.

Jones Energy (JONE) opened at 1.38 on Wednesday. Jones Energy has a 1-year low of $0.85 and a 1-year high of $5.34. The company’s market cap is $85.83 million. The stock’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.69.

Jones Energy (NYSE:JONE) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.30. The business had revenue of $48.60 million during the quarter, compared to the consensus estimate of $53.93 million. Jones Energy had a negative net margin of 79.19% and a positive return on equity of 0.09%. The company’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, analysts forecast that Jones Energy will post ($0.21) earnings per share for the current year.

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In other news, major shareholder Metalmark Capital Ii Llc sold 85,725 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $1.59, for a total value of $136,302.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 621,399 shares of company stock worth $1,004,857. 37.20% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Jones Energy by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 222,567 shares of the oil and gas producer’s stock worth $357,000 after buying an additional 1,328 shares during the period. Highbridge Capital Management LLC grew its holdings in Jones Energy by 4.3% during the 1st quarter. Highbridge Capital Management LLC now owns 42,280 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 1,735 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Jones Energy by 2.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 154,222 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 3,983 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Jones Energy by 11.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 41,601 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 4,170 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Jones Energy by 8.7% during the 1st quarter. Swiss National Bank now owns 97,215 shares of the oil and gas producer’s stock worth $248,000 after acquiring an additional 7,815 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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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