Jones Energy (JONE) Debt Trading 0.8% Lower
An issue of Jones Energy, Inc. (NYSE:JONE) debt fell 0.8% as a percentage of its face value during trading on Tuesday. The debt issue has a 6.75% coupon and will mature on April 1, 2022. The bonds in the issue are now trading at $73.25 and were trading at $71.00 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
JONE has been the topic of several research reports. Zacks Investment Research raised Jones Energy from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Wednesday, October 4th. Stephens cut Jones Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. ValuEngine raised Jones Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Barclays reduced their target price on Jones Energy from $1.50 to $0.50 and set an “underweight” rating on the stock in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Jones Energy has an average rating of “Hold” and a consensus price target of $3.75.
Shares of Jones Energy, Inc. (NYSE JONE) traded down $0.02 during midday trading on Thursday, reaching $0.76. The company’s stock had a trading volume of 1,819,500 shares, compared to its average volume of 1,174,405. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07. Jones Energy, Inc. has a 52 week low of $0.74 and a 52 week high of $5.25.
In other Jones Energy news, major shareholder Metalmark Capital Ii Llc sold 38,801 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $1.61, for a total transaction of $62,469.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,239,891 shares of company stock worth $4,172,754 over the last three months. 37.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in Jones Energy by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 222,567 shares of the oil and gas producer’s stock worth $357,000 after acquiring an additional 1,328 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Jones Energy by 2.7% during the second quarter. TIAA CREF Investment Management LLC now owns 154,222 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 3,983 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Jones Energy by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 264,229 shares of the oil and gas producer’s stock worth $674,000 after acquiring an additional 21,223 shares during the last quarter. California Public Employees Retirement System increased its stake in Jones Energy by 8.7% during the first quarter. California Public Employees Retirement System now owns 318,397 shares of the oil and gas producer’s stock worth $812,000 after acquiring an additional 25,597 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Jones Energy by 2.7% during the second quarter. State Street Corp now owns 1,000,217 shares of the oil and gas producer’s stock valued at $1,603,000 after buying an additional 26,539 shares during the last quarter. 59.41% of the stock is currently owned by institutional investors.
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Jones Energy Company Profile
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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