Jones Energy Inc. (NYSE:JONE) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $6.00 price target on the stock, up from their previous price target of $3.00. Stifel Nicolaus’ target price would suggest a potential upside of 53.85% from the stock’s previous close.
Several other equities analysts also recently weighed in on the stock. Seaport Global Securities started coverage on shares of Jones Energy in a report on Tuesday, August 30th. They issued an “accumulate” rating and a $3.50 price target on the stock. Barclays PLC dropped their price objective on shares of Jones Energy from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, August 26th. Zacks Investment Research cut shares of Jones Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 26th. Finally, Imperial Capital dropped their price objective on shares of Jones Energy from $5.50 to $3.75 and set an “outperform” rating on the stock in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.03.
Jones Energy (NYSE:JONE) opened at 3.90 on Wednesday. The firm’s 50-day moving average is $3.02 and its 200 day moving average is $3.72. Jones Energy has a one year low of $1.16 and a one year high of $6.05. The stock has a market cap of $127.99 million, a P/E ratio of 12.58 and a beta of 2.99.
Jones Energy (NYSE:JONE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The company earned $29.10 million during the quarter, compared to analysts’ expectations of $44.03 million. Jones Energy had a net margin of 6.80% and a negative return on equity of 0.73%. The business’s revenue for the quarter was down 46.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, analysts anticipate that Jones Energy will post ($0.24) EPS for the current fiscal year.
In other Jones Energy news, major shareholder Advisors L.L.C. Jvl bought 9,025,270 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $2.77 per share, for a total transaction of $24,999,997.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 50.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in JONE. Globeflex Capital L P purchased a new position in shares of Jones Energy during the second quarter worth $424,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Jones Energy by 7.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 476,815 shares of the company’s stock worth $1,964,000 after buying an additional 31,914 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Jones Energy by 6.6% in the second quarter. BlackRock Fund Advisors now owns 807,389 shares of the company’s stock worth $3,326,000 after buying an additional 49,673 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Jones Energy by 11.2% in the second quarter. BlackRock Investment Management LLC now owns 129,909 shares of the company’s stock worth $535,000 after buying an additional 13,047 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Jones Energy by 79.4% in the second quarter. Dimensional Fund Advisors LP now owns 176,145 shares of the company’s stock worth $726,000 after buying an additional 77,955 shares during the last quarter. Institutional investors own 71.91% of the company’s stock.
Jones Energy Company Profile
Jones Energy, Inc is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma.
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