Jagged Peak Energy (JAG) Releases Earnings Results, Beats Expectations By $0.03 EPS

Jagged Peak Energy (NYSE:JAG) issued its earnings results on Friday. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03, Morningstar.com reports. The company had revenue of $155.40 million for the quarter, compared to analysts’ expectations of $144.71 million. Jagged Peak Energy had a net margin of 0.70% and a return on equity of 14.55%. Jagged Peak Energy’s quarterly revenue was up 120.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS.

Jagged Peak Energy stock opened at $12.60 on Friday. The stock has a market capitalization of $2.78 billion, a price-to-earnings 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. Jagged Peak Energy has a twelve month low of $10.55 and a twelve month high of $16.55.

A number of brokerages have recently issued reports on JAG. BMO Capital Markets set a $16.00 target price on shares of Jagged Peak Energy and gave the company a “buy” rating in a report on Sunday, August 12th. Credit Suisse Group upped their target price on shares of Jagged Peak Energy from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 10th. ValuEngine raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Jefferies Financial Group set a $13.00 target price on shares of Jagged Peak Energy and gave the company a “hold” rating in a report on Wednesday, July 18th. Finally, Zacks Investment Research raised shares of Jagged Peak Energy from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.18.

In other Jagged Peak Energy news, CFO Robert William Howard sold 31,250 shares of the stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $13.98, for a total value of $436,875.00. Following the transaction, the chief financial officer now directly owns 2,011,673 shares of the company’s stock, valued at approximately $28,123,188.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher Humber sold 25,000 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $14.12, for a total transaction of $353,000.00. Following the completion of the transaction, the executive vice president now directly owns 84,551 shares in the company, valued at $1,193,860.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,750 shares of company stock worth $1,611,750. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in JAG. Legal & General Group Plc grew its position in shares of Jagged Peak Energy by 72.3% during the 1st quarter. Legal & General Group Plc now owns 23,513 shares of the mining company’s stock worth $333,000 after purchasing an additional 9,869 shares in the last quarter. Cambiar Investors LLC acquired a new position in shares of Jagged Peak Energy during the 2nd quarter worth approximately $5,390,000. Nikko Asset Management Americas Inc. acquired a new position in shares of Jagged Peak Energy during the 2nd quarter worth approximately $5,298,000. TD Asset Management Inc. grew its position in shares of Jagged Peak Energy by 41.6% during the 2nd quarter. TD Asset Management Inc. now owns 65,500 shares of the mining company’s stock worth $853,000 after purchasing an additional 19,245 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Jagged Peak Energy during the 2nd quarter worth approximately $1,079,000. 33.59% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Further Reading: Retained Earnings

Earnings History for Jagged Peak Energy (NYSE:JAG)

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