Jagged Peak Energy (NYSE:JAG) had its target price reduced by Bank of America from $18.00 to $16.00 in a report released on Thursday morning. They currently have a buy rating on the mining company’s stock.
JAG has been the subject of several other research reports. BMO Capital Markets set a $17.00 price objective on Jagged Peak Energy and gave the company a buy rating in a research report on Tuesday, November 14th. Stifel Nicolaus set a $16.00 price objective on Jagged Peak Energy and gave the company a buy rating in a research report on Monday, January 29th. ValuEngine downgraded Jagged Peak Energy from a hold rating to a sell rating in a research report on Sunday, December 31st. Tudor Pickering downgraded Jagged Peak Energy from a buy rating to a hold rating in a research report on Monday, January 29th. Finally, Credit Suisse Group assumed coverage on Jagged Peak Energy in a research report on Monday, December 11th. They issued a neutral rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $16.82.
Jagged Peak Energy (JAG) opened at $12.18 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.38 and a quick ratio of 0.38. Jagged Peak Energy has a 52-week low of $10.96 and a 52-week high of $16.55. The stock has a market capitalization of $2,593.50, a price-to-earnings ratio of -29.00 and a beta of -0.42.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JAG. State Street Corp increased its stake in shares of Jagged Peak Energy by 204.8% in the 2nd quarter. State Street Corp now owns 1,307,728 shares of the mining company’s stock valued at $17,454,000 after buying an additional 878,710 shares during the period. Citadel Advisors LLC grew its stake in shares of Jagged Peak Energy by 119.5% during the fourth quarter. Citadel Advisors LLC now owns 1,305,196 shares of the mining company’s stock worth $20,596,000 after purchasing an additional 710,624 shares during the period. Creative Planning acquired a new stake in shares of Jagged Peak Energy during the fourth quarter worth $5,270,000. Essex Investment Management Co. LLC grew its stake in shares of Jagged Peak Energy by 1,273.1% during the fourth quarter. Essex Investment Management Co. LLC now owns 327,626 shares of the mining company’s stock worth $5,170,000 after purchasing an additional 303,765 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Jagged Peak Energy by 341.1% during the second quarter. Northern Trust Corp now owns 373,161 shares of the mining company’s stock worth $4,982,000 after purchasing an additional 288,559 shares during the period. 23.89% of the stock is owned by institutional investors.
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About Jagged Peak Energy
Jagged Peak Energy Inc is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin. The Company’s acreage is located on contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos, with original oil-in-place within multiple stacked hydrocarbon-bearing formations.
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