An issue of Jones Energy, Inc. (NYSE:JONE) debt fell 0.8% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 6.75% coupon and is set to mature on April 1, 2022. The bonds in the issue are now trading at $73.25 and were trading at $71.00 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
A number of equities research analysts have recently issued reports on JONE shares. Zacks Investment Research raised shares of Jones Energy from a “hold” rating to a “strong-buy” rating and set a $1.75 target price on the stock in a report on Wednesday, October 11th. ValuEngine raised shares of Jones Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Stephens cut shares of Jones Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Finally, Barclays dropped their target price on shares of Jones Energy from $1.50 to $0.50 and set an “underweight” rating on the stock in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Jones Energy presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Jones Energy, Inc. (NYSE JONE) traded down $0.05 during trading on Tuesday, reaching $0.78. 1,994,438 shares of the company’s stock traded hands, compared to its average volume of 1,171,706. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07. Jones Energy, Inc. has a 52-week low of $0.75 and a 52-week high of $5.25.
A number of institutional investors have recently added to or reduced their stakes in the business. Q Global Advisors LLC raised its holdings in Jones Energy by 4,993.7% in the 3rd quarter. Q Global Advisors LLC now owns 4,663,124 shares of the oil and gas producer’s stock valued at $8,953,000 after acquiring an additional 4,571,577 shares during the period. Vanguard Group Inc. raised its holdings in Jones Energy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,445,426 shares of the oil and gas producer’s stock valued at $6,236,000 after acquiring an additional 66,526 shares during the period. Goodman Financial Corp raised its holdings in Jones Energy by 12.6% in the 2nd quarter. Goodman Financial Corp now owns 1,707,549 shares of the oil and gas producer’s stock valued at $2,732,000 after acquiring an additional 191,622 shares during the period. Penn Capital Management Co. Inc. raised its holdings in Jones Energy by 9.5% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 1,502,361 shares of the oil and gas producer’s stock valued at $2,404,000 after acquiring an additional 130,842 shares during the period. Finally, State Street Corp raised its holdings in Jones Energy by 2.7% in the 2nd quarter. State Street Corp now owns 1,000,217 shares of the oil and gas producer’s stock valued at $1,603,000 after acquiring an additional 26,539 shares during the period. 59.41% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “Jones Energy (JONE) Debt Trading 0.8% Lower” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://sportsperspectives.com/2017/12/13/jones-energy-jone-debt-trading-0-8-lower.html.
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.
Receive News & Ratings for Jones Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jones Energy and related companies with MarketBeat.com's FREE daily email newsletter.