Upcoming AWS Coverage on International Tower Hill Mines Post-Earnings Results
LONDON, UK / ACCESSWIRE / April 5, 2017 / Active Wall St. announces its post-earnings coverage on Jagged Peak Energy Inc. (NYSE: JAG). The Company posted its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on March 23, 2017. The Denver, Colorado-based Company's production volumes surged 89% y-o-y. Register with us now for your free membership at:
One of Jagged Peak Energy's competitors within the Gold space, International Tower Hill Mines Ltd. (NYSE MKT: THM), reported on March 15, 2017, that its audited year-end financial statements and associated management discussion and analysis and year-end report on Form 10-K for the year ended December 31, 2016. AWS will be initiating a research report on International Tower Hill Mines in the coming days.
Today, AWS is promoting its earnings coverage on JAG; touching on THM. Get our free coverage by signing up to:
During Q4 FY16, Jagged Peak's total revenues increased to $24.88 million from $10.86 million recorded at the end of Q4 FY15. The Company's Oil, natural gas, and NGL (Natural Gas Liquids) sales volume was $24.67 million in Q4 FY16 compared to $10.83 million in Q4 FY15. Moreover, other operating revenues during the reported quarter were $0.21 million versus $0.03 million in prior year's comparable quarter.
The oil and gas Company reported net loss of $1.97 million, or $0.01 loss per pro-forma common share, in Q4 FY16 compared to net loss of $6.79 million, or $0.03 loss per pro-forma common share, in Q4 FY15. Meanwhile, the Company posted adjusted net income in Q4 FY16 of $3.89 million compared to $1.27 million in the previous year's comparable quarter.
For full year FY16, Jagged Peak's operating revenues stood at $76.52 million compared to $33.85 million in FY15. The Company's net loss during FY16 was $9.76 million, or $0.05 loss per pro-forma common share, versus net loss of $7.48 million, or $0.04 loss per pro-forma common share, in FY15. Moreover, the Company reported adjusted net income of $4.66 million in FY16 compared to $3.62 million in FY15.
Jagged Peak total operating expenses increased during Q4 FY16 to $18.75 million from $17.76 million in the past year's comparable quarter. The Company reported income from operations during Q4 FY16 to $6.12 million against loss from operation of $6.90 million in Q4 FY15. Furthermore, adjusted earnings before interest, taxes, depreciation, depletion, amortization, and exploration expenses (EBITDAX) for Q4 FY16 stood at $16.04 million compared to $9.59 million in the year ago same period.
In Q4 FY16, Jagged Peak's oil production volume increased to 492 thousand barrels (MBbls), from 259 MBbls in Q4 FY15. The quarterly production volume of natural gas totaled 283 million cubic feet (MMcf) in Q4 FY16, higher than 134 MMcf in the prior year's comparable quarter. Natural gas liquids (NGL) production volume also increased during Q4 FY16 to 53 MBbls from 32 MBbls in Q4 FY15. Furthermore, total production during the reported quarter was 592 thousand barrels of oil equivalent (MBoe) compared to 313 MBoe in Q4 FY15. Meanwhile, average production during Q4 FY16 was 6,438 barrels of oil equivalent per day (Boe/d) compared to 3,399 Boe/d in Q4 FY15.
Cash Matters and Balance Sheet
In the quarter ended on December 31, 2016, Jagged Peak generated $15.21 million as net cash provided by operating activities compared to $8.47 million in the prior year's same quarter. The Company's cash and cash equivalents balance stood at $11.73 million as on December 31, 2016, compared to $14.17 million at the close of books on December 31, 2015. Furthermore, the Company's total long-term debt increased to $132.00 billion as on December 31, 2016, from $20.00 billion as on December 31, 2015.
On January 26, 2017, Jagged Peak announced the pricing of its initial public offering of 31.60 million shares of its common stock at $15.00 per share. Jagged Peak offered 28.33 million shares of its common stock for sale; while 3.27 million were offered for sale by the stockholders named in the registration statement on Form S-1, previously filed with SEC. The shares started trading on the New York Stock Exchange under the ticker symbol "JAG" on January 27, 2017.
For full year FY17, Jagged Peak expects production range of 17,000 Boe/d to 19,000 Boe/d, a projected rise between 203% to 238% y-o-y. Lease Operating Expenses (LOE) for FY17 is anticipated to be between of $3.00 per Boe and $3.75 per Boe. Furthermore, capital expenditures in FY17 are projected to be in the approximate range of $555 million to $605 million.
At the close of trading session on Tuesday, April 04, 2017, Jagged Peak's stock price climbed 3.47% to end the day at $13.42. A total volume of 662.13 thousand shares were exchanged during the session. The stock currently has a market cap of $2.83 billion.
Active Wall Street:
Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
AWS has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 1-858-257-3144
Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active Wall Street