Jagged Peak Energy Inc (NYSE:JAG) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.07, but opened at $12.33. Jagged Peak Energy shares last traded at $12.60, with a volume of 2811244 shares changing hands.

The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. Jagged Peak Energy had a net margin of 0.70% and a return on equity of 14.55%. The business had revenue of $155.40 million for the quarter, compared to the consensus estimate of $144.71 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 120.4% on a year-over-year basis.

Several brokerages have weighed in on JAG. Zacks Investment Research downgraded shares of Jagged Peak Energy from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. BMO Capital Markets set a $16.00 price target on shares of Jagged Peak Energy and gave the company a “buy” rating in a report on Sunday, August 12th. Jefferies Financial Group set a $13.00 price target on shares of Jagged Peak Energy and gave the company a “hold” rating in a report on Wednesday, July 18th. ValuEngine downgraded shares of Jagged Peak Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, National Alliance Securities began coverage on shares of Jagged Peak Energy in a report on Monday, October 22nd. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $16.18.

In related news, EVP Christopher Humber sold 25,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 84,551 shares in the company, valued at $1,193,860.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert William Howard sold 31,250 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $13.19, for a total transaction of $412,187.50. Following the completion of the sale, the chief financial officer now owns 2,042,923 shares in the company, valued at approximately $26,946,154.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,750 shares of company stock worth $1,611,750. Company insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Jagged Peak Energy by 15.5% in the second quarter. BlackRock Inc. now owns 3,797,380 shares of the mining company’s stock worth $49,441,000 after purchasing an additional 510,513 shares during the last quarter. Trexquant Investment LP bought a new stake in Jagged Peak Energy in the second quarter worth $283,000. Legal & General Group Plc increased its position in Jagged Peak Energy by 72.3% in the first quarter. Legal & General Group Plc now owns 23,513 shares of the mining company’s stock worth $333,000 after purchasing an additional 9,869 shares during the last quarter. Raymond James & Associates increased its position in Jagged Peak Energy by 4.1% in the second 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 during the last quarter. Finally, PEAK6 Investments L.P. increased its position in Jagged Peak Energy by 190.7% in the second quarter. PEAK6 Investments L.P. now owns 34,013 shares of the mining company’s stock worth $443,000 after purchasing an additional 22,313 shares during the last quarter. Institutional investors own 33.59% of the company’s stock.

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 48.46 and a beta of -0.11. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62.

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Jagged Peak Energy Company Profile (NYSE:JAG)

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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