Imperial Capital Comments on Jagged Peak Energy Inc’s Q1 2019 Earnings (JAG)
Jagged Peak Energy Inc (NYSE:JAG) – Investment analysts at Imperial Capital dropped their Q1 2019 earnings per share (EPS) estimates for shares of Jagged Peak Energy in a report released on Monday, November 12th, according to Zacks Investment Research. Imperial Capital analyst I. Haas now anticipates that the mining company will post earnings per share of $0.19 for the quarter, down from their previous estimate of $0.23. Imperial Capital also issued estimates for Jagged Peak Energy’s Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.90 EPS.
JAG has been the topic of several other research reports. National Alliance Securities assumed coverage on shares of Jagged Peak Energy in a report on Monday, October 22nd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Jagged Peak Energy from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. ValuEngine raised shares of Jagged Peak Energy from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. BMO Capital Markets set a $15.00 target price on shares of Jagged Peak Energy and gave the stock a “buy” rating in a report on Tuesday, November 13th. Finally, Zacks Investment Research raised shares of Jagged Peak Energy from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.75.
Jagged Peak Energy (NYSE:JAG) last announced its quarterly earnings results on Friday, November 9th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. 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 for the quarter, compared to analyst estimates of $144.71 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 120.4% on a year-over-year basis.
In other Jagged Peak Energy news, EVP Christopher Humber sold 25,000 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $14.12, for a total transaction of $353,000.00. Following the sale, 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 hyperlink. Also, CFO Robert William Howard sold 31,250 shares of the stock in a transaction dated 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 in the company, valued at approximately $28,123,188.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,500 shares of company stock worth $1,202,063. Insiders own 1.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Jagged Peak Energy during the 3rd quarter valued at about $105,000. Marshall Wace North America L.P. acquired a new position in Jagged Peak Energy during the 3rd quarter valued at about $225,000. Trexquant Investment LP acquired a new position in Jagged Peak Energy during the 2nd quarter valued at about $283,000. Wakefield Asset Management LLLP acquired a new position in Jagged Peak Energy during the 3rd quarter valued at about $284,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Jagged Peak Energy during the 2nd quarter valued at about $309,000. Institutional investors own 28.84% of the company’s stock.
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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