Jagged Peak Energy Inc (NYSE:JAG) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $12.07, but opened at $12.33. Jagged Peak Energy shares last traded at $12.60, with a volume of 2811244 shares changing hands.
The mining company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Jagged Peak Energy had a net margin of 0.70% and a return on equity of 14.55%. The business had revenue of $155.40 million during the quarter, compared to analyst estimates of $144.71 million. During the same period in the previous year, the business earned ($0.07) EPS. Jagged Peak Energy’s revenue was up 120.4% compared to the same quarter last year.
JAG has been the subject of a number of recent research reports. KLR Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Jagged Peak Energy in a research note on Monday, August 20th. BMO Capital Markets set a $16.00 price objective on shares of Jagged Peak Energy and gave the company a “buy” rating in a research note on Sunday, August 12th. Stifel Nicolaus boosted their price target on shares of Jagged Peak Energy from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Jagged Peak Energy from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday, October 11th. Finally, Barclays started coverage on shares of Jagged Peak Energy in a research report on Wednesday, August 29th. They set an “equal weight” rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.18.
Several hedge funds and other institutional investors have recently bought and sold shares of JAG. Trexquant Investment LP bought a new stake in shares of Jagged Peak Energy during the 2nd quarter worth $283,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Jagged Peak Energy during the 2nd quarter worth $309,000. Legal & General Group Plc lifted its holdings 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 acquiring an additional 9,869 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Jagged Peak Energy by 37.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 24,580 shares of the mining company’s stock worth $340,000 after acquiring an additional 6,654 shares during the last quarter. Finally, PEAK6 Investments L.P. lifted its holdings in shares of Jagged Peak Energy by 190.7% during the 2nd quarter. PEAK6 Investments L.P. now owns 34,013 shares of the mining company’s stock worth $443,000 after acquiring an additional 22,313 shares during the last quarter. 33.59% of the stock is owned by institutional investors.
The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.78 billion, a PE ratio of 27.17 and a beta of -0.11.
TRADEMARK VIOLATION NOTICE: “Jagged Peak Energy (JAG) Shares Gap Up on Earnings Beat” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://sportsperspectives.com/2018/11/10/jagged-peak-energy-jag-shares-gap-up-on-earnings-beat.html.
Jagged Peak Energy Company Profile (NYSE:JAG)
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: Growth Stocks
Receive News & Ratings for Jagged Peak Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jagged Peak Energy and related companies with MarketBeat.com's FREE daily email newsletter.