Jagged Peak Energy (JAG) Shares Gap Up on Earnings Beat

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.

In other news, EVP Christopher Humber sold 25,000 shares of Jagged Peak Energy stock in a transaction on 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 sale, the executive vice president now directly owns 84,551 shares of the company’s stock, valued at approximately $1,193,860.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert William Howard sold 31,250 shares of Jagged Peak Energy stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $13.98, for a total transaction of $436,875.00. Following the sale, the chief financial officer now directly owns 2,011,673 shares of the company’s stock, valued at $28,123,188.54. The disclosure for this sale can be found here. Insiders have sold a total of 118,750 shares of company stock valued at $1,611,750 over the last 90 days. Company insiders own 1.50% of the company’s stock.

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.

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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.

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