Jones Energy Inc. (JONE) Lifted to Buy at Stifel Nicolaus
Stifel Nicolaus upgraded shares of Jones Energy Inc. (NYSE:JONE) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $6.00 price target on the stock, up from their prior price target of $3.00.
JONE has been the topic of several other reports. Imperial Capital reduced their price objective on Jones Energy from $5.50 to $3.75 and set an outperform rating on the stock in a research report on Monday, August 22nd. Seaport Global Securities initiated coverage on Jones Energy in a research report on Tuesday, August 30th. They set an accumulate rating and a $3.50 price target on the stock. Barclays PLC reduced their price target on Jones Energy from $3.00 to $2.50 and set an underweight rating on the stock in a research report on Friday, August 26th. Finally, Zacks Investment Research lowered Jones Energy from a hold rating to a strong sell rating in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Jones Energy has an average rating of Hold and an average price target of $5.03.
Shares of Jones Energy (NYSE:JONE) opened at 4.32 on Wednesday. The company has a market capitalization of $141.78 million, a PE ratio of 13.94 and a beta of 2.98. Jones Energy has a 12-month low of $1.16 and a 12-month high of $5.84. The stock’s 50 day moving average price is $3.11 and its 200 day moving average price is $3.73.
Jones Energy (NYSE:JONE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.04. Jones Energy had a net margin of 6.80% and a negative return on equity of 0.73%. The business earned $29.10 million during the quarter, compared to analysts’ expectations of $44.03 million. During the same period in the previous year, the business earned ($0.02) EPS. The business’s revenue was down 46.0% on a year-over-year basis. On average, equities research analysts forecast that Jones Energy will post ($0.24) earnings per share for the current year.
In other Jones Energy news, major shareholder Advisors L.L.C. Jvl purchased 9,025,270 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average price of $2.77 per share, for a total transaction of $24,999,997.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 50.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Jones Energy by 5.0% in the first quarter. State Street Corp now owns 347,927 shares of the company’s stock valued at $1,156,000 after buying an additional 16,686 shares in the last quarter. Geode Capital Management LLC boosted its position in Jones Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 196,177 shares of the company’s stock valued at $653,000 after buying an additional 3,194 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Jones Energy during the first quarter valued at $218,000. Chicago Equity Partners LLC acquired a new position in Jones Energy during the second quarter valued at $771,000. Finally, Bank of New York Mellon Corp boosted its position in Jones Energy by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 300,984 shares of the company’s stock valued at $1,241,000 after buying an additional 11,928 shares in the last quarter. Hedge funds and other institutional investors own 71.91% of the company’s stock.
About Jones Energy
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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