Crude oil prices are showing signs of recovery, recently rising above $50 a barrel. Can Jones Energy Inc (NYSE: JONE) follow the oil price recovery trajectory? Strengthening crude prices certainly bode well for the company and in the coming few weeks, the management of JONE will be sharing details about how they see the future shaping out.
Jones Energy Inc. (NYSE: JONE) said that its representatives will present at two high-level industry conferences in the coming weeks. The first presentation will be at the Wells Fargo West Coast Energy Conference on June 21 to June 22. The event will take place in San Francisco, California.
The second presentation will be at JPMorgan Inaugural Energy Equity Investor Conference on June 27 to June 29. The event will take place In New York.
Jones Energy Inc. (NYSE: JONE) said that investors interested in catching up with its presentations at the two events can check its website for materials that will be presented.
Excitement in oil market
The recent strong recovery of oil prices has rekindled hope that energy companies will be able to kick their problems. Oil prices rose above $50 a barrel after it emerged that U.S. oil stockpile continued to drop, boosting hopes that the global crude oil glut could be past its worst.
OPEC members meeting recently failed to lower their crude production as they said that the crude oil market could correct itself without external interference. Disturbances in oil production in Canada (due to the wildfire) and Nigeria (due to terrorism in oil regions) are believed to be helping accelerate correction in the energy market.
Analysts see bright future for Jones Energy Inc. (NYSE: JONE)
Analysts have started modeling a bright future for Jones Energy Inc. (NYSE: JONE), citing various compelling growth opportunities for the company in the coming years. The analysts at Iberia Capital recently upgraded their rating on the stock to OUTPERFORM from SECTOR PERFORM. They also sweetened their price target on the stock to $6 from $4. In particular, the analysts noted that monetization of JONE’s Cleveland play will come sooner than previously anticipated.