Jones Energy Inc (JONE) was Upgraded by Imperial Capital to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 5.25 from a previous price target of $1.25 . Earlier the firm had a rating of “In-line ” on the company shares. Imperial Capital advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Jones Energy Inc. Company shares were Reiterated by Imperial Capital on Mar 9, 2016 to “In-line”, Firm has raised the Price Target to $ 2.50 from a previous price target of $1.25 .Shares were Downgraded by Imperial Capital on Feb 23, 2016 to ” In-line” and Lowered the Price Target to $ 1.25 from a previous price target of $7.50 .Jones Energy Inc was Downgraded by Iberia to ” Sector Perform” on Feb 12, 2016.
On the company’s financial health, Jones Energy Inc reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Mar 7, 2016. Analyst had a consensus of $-0.05. The company had revenue of $38.23 million for the quarter, compared to analysts expectations of $81.45 million. The company’s revenue was down -49.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.
Jones Energy Inc opened for trading at $3.9 and hit $4.53 on the upside on Friday, eventually ending the session at $4.34, with a gain of 11.00% or 0.43 points. The heightened volatility saw the trading volume jump to 2,63,442 shares. Company has a market cap of $268 M.
In a different news, on Apr 20, 2016, Jeffrey Alan Tanner (Executive VP & CFO) sold 4,500 shares at $3.65 per share price. According to the SEC, on Apr 20, 2016, Robert J. Brooks (Executive VP & CFO) sold 13,170 shares at $3.66 per share price. On Apr 20, 2016, Mike Mcconnell (President) sold 41,127 shares at $3.66 per share price, according to the Form-4 filing with the securities and exchange commission.
Jones Energy Inc. is an independent oil and gas company engaged in the exploration development production and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. The Company owns leasehold interests in oil and natural gas producing properties as well as in undeveloped acreage primarily located in the Anadarko and Arkoma basins in Texas and Oklahoma. The Company’s operations in the Anadarko basin are primarily focused on the Cleveland formation along with the Tonkawa Marmaton Granite Wash Atoka shale and Cherokee shale formations located in the eastern portion of the Texas Panhandle and western Oklahoma. The Company’s properties in the Arkoma basin produce primarily from the Woodford formation. As of December 31 2014 the Company’s total estimated proved reserves were 115.3 million barrels of oil equivalent (MMBoe). As of December 31 2014 the Company’s properties included 947 gross producing wells.