Jagged Peak Energy (JAG) Announces Quarterly Earnings Results

Jagged Peak Energy (NYSE:JAG) released its earnings results on Friday, November 9th. The mining company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03, Morningstar.com reports. Jagged Peak Energy had a negative net margin of 1.48% and a positive return on equity of 17.35%. The firm had revenue of $155.40 million during the quarter, compared to analyst estimates of $144.71 million. During the same quarter last year, the business earned ($0.07) EPS. The business’s revenue was up 120.4% on a year-over-year basis.

NYSE JAG traded up $0.81 during trading on Monday, reaching $12.25. 1,290,000 shares of the company’s stock traded hands, compared to its average volume of 1,367,942. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 47.12 and a beta of -0.14. Jagged Peak Energy has a 12-month low of $10.55 and a 12-month high of $16.55.

In other news, EVP Christopher Humber sold 25,000 shares of Jagged Peak Energy stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $14.12, for a total value of $353,000.00. Following the transaction, the executive vice president now owns 84,551 shares of the company’s stock, valued at approximately $1,193,860.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert William Howard sold 31,250 shares of Jagged Peak Energy stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 2,011,673 shares in the company, valued at approximately $28,123,188.54. The disclosure for this sale can be found here. Insiders have sold a total of 87,500 shares of company stock worth $1,202,063 in the last three months. Insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in Jagged Peak Energy by 4.1% in the 2nd quarter. Raymond James & Associates now owns 123,969 shares of the mining company’s stock worth $1,614,000 after purchasing an additional 4,928 shares in the last quarter. Strs Ohio boosted its stake in Jagged Peak Energy by 9.9% in the 2nd quarter. Strs Ohio now owns 67,800 shares of the mining company’s stock worth $882,000 after purchasing an additional 6,100 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Jagged Peak Energy by 37.1% in 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 purchasing an additional 6,654 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Jagged Peak Energy in the 3rd quarter worth approximately $105,000. Finally, Rhumbline Advisers boosted its stake in Jagged Peak Energy by 14.4% in the 2nd quarter. Rhumbline Advisers now owns 62,134 shares of the mining company’s stock worth $809,000 after purchasing an additional 7,830 shares in the last quarter. Institutional investors own 28.84% of the company’s stock.

JAG has been the subject of a number of research analyst reports. BMO Capital Markets set a $15.00 price objective on shares of Jagged Peak Energy and gave the company a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research upgraded shares of Jagged Peak Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, October 11th. KLR Group reiterated a “buy” rating and set a $19.00 price objective on shares of Jagged Peak Energy in a report on Monday, August 20th. Stifel Nicolaus lifted their price objective on shares of Jagged Peak Energy from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Barclays began 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 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Jagged Peak Energy currently has an average rating of “Hold” and an average target price of $16.12.

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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.

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Earnings History for Jagged Peak Energy (NYSE:JAG)

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