Jagged Peak Energy Inc (JAG) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC increased its holdings in Jagged Peak Energy Inc (NYSE:JAG) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 663,390 shares of the mining company’s stock after acquiring an additional 69,847 shares during the period. Geode Capital Management LLC owned about 0.31% of Jagged Peak Energy worth $6,050,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in JAG. Man Group plc raised its stake in shares of Jagged Peak Energy by 39.4% during the 3rd quarter. Man Group plc now owns 363,769 shares of the mining company’s stock worth $5,031,000 after purchasing an additional 102,742 shares in the last quarter. Eaton Vance Management raised its stake in shares of Jagged Peak Energy by 22.9% during the 4th quarter. Eaton Vance Management now owns 133,148 shares of the mining company’s stock worth $1,214,000 after purchasing an additional 24,806 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Jagged Peak Energy during the 3rd quarter worth about $13,888,000. Great West Life Assurance Co. Can raised its stake in shares of Jagged Peak Energy by 145.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 8,347 shares of the mining company’s stock worth $73,000 after purchasing an additional 4,947 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Jagged Peak Energy by 16.1% during the 3rd quarter. Alliancebernstein L.P. now owns 91,500 shares of the mining company’s stock worth $1,265,000 after purchasing an additional 12,700 shares in the last quarter. 29.75% of the stock is owned by hedge funds and other institutional investors.
JAG has been the subject of a number of recent research reports. Zacks Investment Research downgraded Jagged Peak Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Barclays set a $12.00 price target on Jagged Peak Energy and gave the stock a “hold” rating in a research note on Wednesday, January 16th. Cowen reaffirmed a “hold” rating and set a $13.00 price target on shares of Jagged Peak Energy in a research note on Wednesday, February 20th. Imperial Capital reaffirmed an “outperform” rating and set a $16.00 price target (up from $14.00) on shares of Jagged Peak Energy in a research note on Monday, March 4th. Finally, TheStreet downgraded Jagged Peak Energy from a “c-” rating to a “d+” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, nine 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 $14.92.
Jagged Peak Energy (NYSE:JAG) last issued its quarterly earnings data on Thursday, February 28th. The mining company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The company had revenue of $138.54 million for the quarter, compared to analyst estimates of $151.13 million. Jagged Peak Energy had a net margin of 28.45% and a return on equity of 17.00%. Research analysts expect that Jagged Peak Energy Inc will post 0.62 earnings per share for the current year.
In other Jagged Peak Energy news, CFO Robert William Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $10.68, for a total value of $213,600.00. Following the sale, the chief financial officer now owns 2,234,817 shares of the company’s stock, valued at approximately $23,867,845.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Kleckner sold 4,107 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $10.89, for a total value of $44,725.23. Following the completion of the sale, the director now directly owns 270,821 shares in the company, valued at approximately $2,949,240.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,784 shares of company stock worth $904,200. 1.50% of the stock is currently owned by insiders.
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Jagged Peak Energy Profile
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, 2018, it held an 87% average working interest in approximately 79,500 net acres with an estimated net proved reserves of 118,890 thousand barrel of oil equivalent, as well as owned a 89% average working interest in 143 net productive wells.
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