Jones Energy (JONE) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Jones Energy (NYSE:JONE) from a sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Jones Energy, Inc. is an independent oil and gas company. It engages in the development, production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Jones Energy, Inc. is based in Austin, Texas. “

JONE has been the subject of several other reports. ValuEngine raised Jones Energy from a buy rating to a strong-buy rating in a research note on Tuesday, September 11th. Stifel Nicolaus set a $14.00 price objective on Jones Energy and gave the stock a buy rating in a research note on Wednesday, September 26th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $12.17.

Shares of JONE stock opened at $0.46 on Tuesday. Jones Energy has a 1 year low of $0.28 and a 1 year high of $580.00. The firm has a market cap of $10.95 million, a PE ratio of -0.05 and a beta of 3.09. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.10 and a current ratio of 1.10.

Jones Energy (NYSE:JONE) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported ($6.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.43) by ($0.34). Jones Energy had a negative net margin of 22.39% and a negative return on equity of 21.89%. The firm had revenue of $59.73 million for the quarter, compared to analyst estimates of $60.40 million. As a group, research analysts expect that Jones Energy will post -26.31 earnings per share for the current year.

In other news, major shareholder Advisors L.L.C. Jvl sold 81,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $0.63, for a total transaction of $51,030.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 32.10% of the company’s stock.

A hedge fund recently raised its stake in Jones Energy stock. Wolverine Asset Management LLC lifted its holdings in Jones Energy Inc (NYSE:JONE) by 249,244.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 775,461 shares of the oil and gas producer’s stock after buying an additional 775,150 shares during the period. Wolverine Asset Management LLC owned about 0.76% of Jones Energy worth $288,000 as of its most recent SEC filing.

About Jones Energy

Jones Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the mid-continent United States. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage located in the Anadarko Basin in Oklahoma and Texas.

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