Jagged Peak Energy (JAG) PT Lowered to $16.00 at Bank of America

Jagged Peak Energy (NYSE:JAG) had its target price dropped by equities research analysts at Bank of America from $18.00 to $16.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the mining company’s stock. Bank of America’s price objective points to a potential upside of 31.36% from the company’s previous close.

JAG has been the subject of a number of other research reports. Royal Bank of Canada set a $18.00 price target on shares of Jagged Peak Energy and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Stifel Nicolaus set a $16.00 price target on shares of Jagged Peak Energy and gave the stock a “buy” rating in a research note on Monday, January 29th. UBS Group started coverage on shares of Jagged Peak Energy in a research note on Wednesday. They set a “neutral” rating and a $13.50 price target for the company. Credit Suisse Group decreased their price target on shares of Jagged Peak Energy from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Scotiabank set a $16.00 price target on shares of Jagged Peak Energy and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.82.

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Shares of Jagged Peak Energy (NYSE:JAG) opened at $12.18 on Thursday. The firm has a market cap of $2,484.90, a price-to-earnings ratio of 61.42 and a beta of -0.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.38 and a current ratio of 0.38. Jagged Peak Energy has a 52 week low of $10.96 and a 52 week high of $16.55.

In other news, EVP Christopher Humber sold 2,664 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.97, for a total value of $34,552.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph N. Jaggers sold 49,973 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $15.57, for a total transaction of $778,079.61. Following the completion of the sale, the chief executive officer now owns 4,741,320 shares of the company’s stock, valued at approximately $73,822,352.40. The disclosure for this sale can be found here. Insiders sold a total of 837,762 shares of company stock valued at $11,254,833 in the last 90 days.

Several hedge funds have recently added to or reduced their stakes in JAG. State Street Corp lifted its stake in shares of Jagged Peak Energy by 204.8% in the 2nd quarter. State Street Corp now owns 1,307,728 shares of the mining company’s stock worth $17,454,000 after acquiring an additional 878,710 shares during the period. Citadel Advisors LLC lifted its stake in shares of Jagged Peak Energy by 119.5% in the 4th quarter. Citadel Advisors LLC now owns 1,305,196 shares of the mining company’s stock worth $20,596,000 after acquiring an additional 710,624 shares during the period. Creative Planning acquired a new stake in shares of Jagged Peak Energy in the 4th quarter worth $5,270,000. Essex Investment Management Co. LLC lifted its stake in shares of Jagged Peak Energy by 1,273.1% in the 4th quarter. Essex Investment Management Co. LLC now owns 327,626 shares of the mining company’s stock worth $5,170,000 after acquiring an additional 303,765 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Jagged Peak Energy by 341.1% in the 2nd quarter. Northern Trust Corp now owns 373,161 shares of the mining company’s stock worth $4,982,000 after acquiring an additional 288,559 shares during the period. Institutional investors own 23.89% of the company’s stock.

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Jagged Peak Energy Company Profile

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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