Intrinsic value of Jones Energy Cl A - JONE

Previous Close

$1.26

  Intrinsic Value

$1.44

stock screener

  Rating & Target

hold

+14%

Previous close

$1.26

 
Intrinsic value

$1.44

 
Up/down potential

+14%

 
Rating

hold

We calculate the intrinsic value of JONE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -35.03
  33.30
  30.47
  27.92
  25.63
  23.57
  21.71
  20.04
  18.54
  17.18
  15.96
  14.87
  13.88
  12.99
  12.19
  11.47
  10.83
  10.24
  9.72
  9.25
  8.82
  8.44
  8.10
  7.79
  7.51
  7.26
  7.03
  6.83
  6.65
  6.48
  6.33
Revenue, $m
  128
  171
  223
  285
  358
  442
  538
  646
  766
  897
  1,040
  1,195
  1,361
  1,538
  1,725
  1,923
  2,131
  2,350
  2,578
  2,817
  3,065
  3,324
  3,593
  3,873
  4,163
  4,466
  4,780
  5,106
  5,445
  5,798
  6,165
Variable operating expenses, $m
 
  264
  344
  441
  553
  684
  832
  999
  1,184
  1,388
  1,609
  1,849
  2,105
  2,379
  2,669
  2,975
  3,297
  3,635
  3,988
  4,357
  4,742
  5,142
  5,558
  5,991
  6,441
  6,908
  7,394
  7,899
  8,424
  8,970
  9,538
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  133
  264
  344
  441
  553
  684
  832
  999
  1,184
  1,388
  1,609
  1,849
  2,105
  2,379
  2,669
  2,975
  3,297
  3,635
  3,988
  4,357
  4,742
  5,142
  5,558
  5,991
  6,441
  6,908
  7,394
  7,899
  8,424
  8,970
  9,538
Operating income, $m
  -5
  -93
  -122
  -156
  -196
  -242
  -294
  -353
  -419
  -491
  -569
  -654
  -744
  -841
  -944
  -1,052
  -1,166
  -1,285
  -1,410
  -1,541
  -1,677
  -1,818
  -1,965
  -2,118
  -2,277
  -2,443
  -2,614
  -2,793
  -2,979
  -3,172
  -3,373
EBITDA, $m
  149
  112
  146
  187
  234
  290
  352
  423
  502
  588
  682
  783
  892
  1,007
  1,130
  1,260
  1,396
  1,539
  1,689
  1,845
  2,008
  2,177
  2,354
  2,537
  2,727
  2,925
  3,131
  3,345
  3,567
  3,798
  4,039
Interest expense (income), $m
  54
  50
  81
  120
  165
  219
  281
  351
  430
  518
  615
  720
  833
  955
  1,085
  1,222
  1,368
  1,521
  1,681
  1,849
  2,024
  2,206
  2,396
  2,593
  2,799
  3,012
  3,234
  3,464
  3,704
  3,953
  4,212
Earnings before tax, $m
  -109
  -143
  -203
  -275
  -361
  -461
  -575
  -704
  -849
  -1,009
  -1,184
  -1,373
  -1,578
  -1,796
  -2,029
  -2,274
  -2,534
  -2,806
  -3,091
  -3,389
  -3,700
  -4,024
  -4,361
  -4,712
  -5,076
  -5,455
  -5,848
  -6,257
  -6,683
  -7,125
  -7,585
Tax expense, $m
  -24
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -43
  -143
  -203
  -275
  -361
  -461
  -575
  -704
  -849
  -1,009
  -1,184
  -1,373
  -1,578
  -1,796
  -2,029
  -2,274
  -2,534
  -2,806
  -3,091
  -3,389
  -3,700
  -4,024
  -4,361
  -4,712
  -5,076
  -5,455
  -5,848
  -6,257
  -6,683
  -7,125
  -7,585

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  35
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,887
  2,473
  3,226
  4,127
  5,185
  6,407
  7,798
  9,361
  11,096
  13,002
  15,078
  17,320
  19,724
  22,286
  25,004
  27,873
  30,890
  34,055
  37,365
  40,820
  44,422
  48,171
  52,072
  56,126
  60,340
  64,720
  69,270
  74,001
  78,918
  84,033
  89,355
Adjusted assets (=assets-cash), $m
  1,852
  2,473
  3,226
  4,127
  5,185
  6,407
  7,798
  9,361
  11,096
  13,002
  15,078
  17,320
  19,724
  22,286
  25,004
  27,873
  30,890
  34,055
  37,365
  40,820
  44,422
  48,171
  52,072
  56,126
  60,340
  64,720
  69,270
  74,001
  78,918
  84,033
  89,355
Revenue / Adjusted assets
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
  0.069
Average production assets, $m
  1,693
  2,256
  2,944
  3,766
  4,731
  5,846
  7,115
  8,541
  10,124
  11,863
  13,757
  15,802
  17,996
  20,334
  22,813
  25,431
  28,184
  31,071
  34,091
  37,244
  40,530
  43,951
  47,509
  51,209
  55,054
  59,049
  63,201
  67,517
  72,004
  76,671
  81,526
Working capital, $m
  -9
  -59
  -77
  -98
  -123
  -152
  -185
  -222
  -263
  -309
  -358
  -411
  -468
  -529
  -593
  -662
  -733
  -808
  -887
  -969
  -1,054
  -1,143
  -1,236
  -1,332
  -1,432
  -1,536
  -1,644
  -1,756
  -1,873
  -1,995
  -2,121
Total debt, $m
  724
  1,179
  1,732
  2,393
  3,170
  4,067
  5,088
  6,235
  7,508
  8,908
  10,431
  12,077
  13,841
  15,722
  17,717
  19,823
  22,038
  24,360
  26,790
  29,326
  31,970
  34,722
  37,585
  40,561
  43,654
  46,868
  50,208
  53,680
  57,290
  61,044
  64,950
Total liabilities, $m
  1,360
  1,815
  2,368
  3,029
  3,806
  4,703
  5,724
  6,871
  8,144
  9,544
  11,067
  12,713
  14,477
  16,358
  18,353
  20,459
  22,674
  24,996
  27,426
  29,962
  32,606
  35,358
  38,221
  41,197
  44,290
  47,504
  50,844
  54,316
  57,926
  61,680
  65,586
Total equity, $m
  527
  658
  858
  1,098
  1,379
  1,704
  2,074
  2,490
  2,951
  3,459
  4,011
  4,607
  5,246
  5,928
  6,651
  7,414
  8,217
  9,059
  9,939
  10,858
  11,816
  12,814
  13,851
  14,930
  16,051
  17,215
  18,426
  19,684
  20,992
  22,353
  23,768
Total liabilities and equity, $m
  1,887
  2,473
  3,226
  4,127
  5,185
  6,407
  7,798
  9,361
  11,095
  13,003
  15,078
  17,320
  19,723
  22,286
  25,004
  27,873
  30,891
  34,055
  37,365
  40,820
  44,422
  48,172
  52,072
  56,127
  60,341
  64,719
  69,270
  74,000
  78,918
  84,033
  89,354
Debt-to-equity ratio
  1.374
  1.790
  2.020
  2.180
  2.300
  2.390
  2.450
  2.500
  2.540
  2.580
  2.600
  2.620
  2.640
  2.650
  2.660
  2.670
  2.680
  2.690
  2.700
  2.700
  2.710
  2.710
  2.710
  2.720
  2.720
  2.720
  2.720
  2.730
  2.730
  2.730
  2.730
Adjusted equity ratio
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -43
  -143
  -203
  -275
  -361
  -461
  -575
  -704
  -849
  -1,009
  -1,184
  -1,373
  -1,578
  -1,796
  -2,029
  -2,274
  -2,534
  -2,806
  -3,091
  -3,389
  -3,700
  -4,024
  -4,361
  -4,712
  -5,076
  -5,455
  -5,848
  -6,257
  -6,683
  -7,125
  -7,585
Depreciation, amort., depletion, $m
  154
  205
  268
  342
  430
  531
  647
  776
  920
  1,078
  1,251
  1,437
  1,636
  1,849
  2,074
  2,312
  2,562
  2,825
  3,099
  3,386
  3,685
  3,996
  4,319
  4,655
  5,005
  5,368
  5,746
  6,138
  6,546
  6,970
  7,411
Funds from operations, $m
  41
  62
  64
  67
  69
  71
  72
  72
  71
  70
  67
  63
  58
  52
  45
  37
  29
  19
  8
  -3
  -16
  -28
  -42
  -56
  -71
  -87
  -103
  -119
  -137
  -155
  -173
Change in working capital, $m
  15
  -15
  -18
  -21
  -25
  -29
  -33
  -37
  -41
  -45
  -49
  -53
  -57
  -61
  -65
  -68
  -72
  -75
  -79
  -82
  -85
  -89
  -93
  -96
  -100
  -104
  -108
  -112
  -117
  -121
  -126
Cash from operations, $m
  26
  76
  82
  88
  94
  100
  105
  109
  113
  115
  116
  116
  115
  113
  110
  106
  100
  94
  87
  79
  70
  60
  50
  40
  29
  17
  5
  -7
  -20
  -33
  -47
Maintenance CAPEX, $m
  0
  -154
  -205
  -268
  -342
  -430
  -531
  -647
  -776
  -920
  -1,078
  -1,251
  -1,437
  -1,636
  -1,849
  -2,074
  -2,312
  -2,562
  -2,825
  -3,099
  -3,386
  -3,685
  -3,996
  -4,319
  -4,655
  -5,005
  -5,368
  -5,746
  -6,138
  -6,546
  -6,970
New CAPEX, $m
  -265
  -564
  -687
  -822
  -965
  -1,115
  -1,269
  -1,426
  -1,583
  -1,739
  -1,894
  -2,045
  -2,193
  -2,338
  -2,479
  -2,618
  -2,753
  -2,887
  -3,020
  -3,153
  -3,286
  -3,421
  -3,559
  -3,700
  -3,845
  -3,995
  -4,152
  -4,316
  -4,487
  -4,667
  -4,856
Cash from investing activities, $m
  -131
  -718
  -892
  -1,090
  -1,307
  -1,545
  -1,800
  -2,073
  -2,359
  -2,659
  -2,972
  -3,296
  -3,630
  -3,974
  -4,328
  -4,692
  -5,065
  -5,449
  -5,845
  -6,252
  -6,672
  -7,106
  -7,555
  -8,019
  -8,500
  -9,000
  -9,520
  -10,062
  -10,625
  -11,213
  -11,826
Free cash flow, $m
  -105
  -641
  -810
  -1,001
  -1,213
  -1,445
  -1,696
  -1,963
  -2,247
  -2,545
  -2,856
  -3,180
  -3,515
  -3,861
  -4,218
  -4,586
  -4,965
  -5,356
  -5,758
  -6,173
  -6,602
  -7,045
  -7,504
  -7,979
  -8,471
  -8,983
  -9,515
  -10,068
  -10,645
  -11,246
  -11,872
Issuance/(repayment) of debt, $m
  -17
  455
  553
  661
  776
  897
  1,021
  1,147
  1,274
  1,399
  1,524
  1,645
  1,765
  1,881
  1,995
  2,106
  2,215
  2,323
  2,430
  2,536
  2,644
  2,752
  2,863
  2,976
  3,093
  3,214
  3,340
  3,472
  3,610
  3,754
  3,906
Issuance/(repurchase) of shares, $m
  153
  309
  404
  515
  642
  786
  945
  1,120
  1,311
  1,516
  1,736
  1,970
  2,217
  2,478
  2,751
  3,038
  3,336
  3,648
  3,972
  4,308
  4,658
  5,021
  5,399
  5,790
  6,197
  6,620
  7,059
  7,516
  7,991
  8,485
  9,000
Cash from financing (excl. dividends), $m  
  120
  764
  957
  1,176
  1,418
  1,683
  1,966
  2,267
  2,585
  2,915
  3,260
  3,615
  3,982
  4,359
  4,746
  5,144
  5,551
  5,971
  6,402
  6,844
  7,302
  7,773
  8,262
  8,766
  9,290
  9,834
  10,399
  10,988
  11,601
  12,239
  12,906
Total cash flow (excl. dividends), $m
  15
  123
  146
  175
  206
  237
  270
  304
  337
  370
  403
  436
  467
  498
  528
  557
  586
  615
  643
  671
  700
  728
  758
  788
  819
  851
  884
  919
  955
  994
  1,034
Retained Cash Flow (-), $m
  -127
  -309
  -404
  -515
  -642
  -786
  -945
  -1,120
  -1,311
  -1,516
  -1,736
  -1,970
  -2,217
  -2,478
  -2,751
  -3,038
  -3,336
  -3,648
  -3,972
  -4,308
  -4,658
  -5,021
  -5,399
  -5,790
  -6,197
  -6,620
  -7,059
  -7,516
  -7,991
  -8,485
  -9,000
Prev. year cash balance distribution, $m
 
  35
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -151
  -257
  -340
  -437
  -548
  -675
  -816
  -973
  -1,146
  -1,333
  -1,534
  -1,750
  -1,980
  -2,223
  -2,480
  -2,750
  -3,033
  -3,328
  -3,637
  -3,958
  -4,293
  -4,641
  -5,002
  -5,378
  -5,769
  -6,175
  -6,597
  -7,035
  -7,491
  -7,966
Discount rate, %
 
  10.20
  10.71
  11.25
  11.81
  12.40
  13.02
  13.67
  14.35
  15.07
  15.82
  16.61
  17.45
  18.32
  19.23
  20.20
  21.21
  22.27
  23.38
  24.55
  25.77
  27.06
  28.42
  29.84
  31.33
  32.90
  34.54
  36.27
  38.08
  39.99
  41.98
PV of cash for distribution, $m
 
  -137
  -210
  -247
  -279
  -306
  -324
  -333
  -333
  -324
  -307
  -283
  -254
  -222
  -189
  -157
  -127
  -99
  -76
  -56
  -40
  -28
  -19
  -12
  -8
  -5
  -3
  -2
  -1
  0
  0
Current shareholders' claim on cash, %
  100
  52.7
  28.1
  15.1
  8.2
  4.5
  2.5
  1.4
  0.8
  0.5
  0.3
  0.2
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

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. The Company's oil is generally sold under short-term, extendable and cancellable agreements with unaffiliated purchasers. The Company's natural gas is sold at delivery points at or near producing wells to natural gas gathering and marketing companies. Its total estimated proved reserves are approximately 101.7 million barrels of oil equivalent (MMBoe). Approximately 25% of its total estimated proved reserves consist of oil, over 32% consist of natural gas liquids (NGLs) and over 43% consist of natural gas. Its properties include over 1,020 gross producing wells.

FINANCIAL RATIOS  of  Jones Energy Cl A (JONE)

Valuation Ratios
P/E Ratio -2.7
Price to Sales 0.9
Price to Book 0.2
Price to Tangible Book
Price to Cash Flow 4.5
Price to Free Cash Flow -0.5
Growth Rates
Sales Growth Rate -35%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.1%
Cap. Spend. - 3 Yr. Gr. Rate -6.8%
Financial Strength
Quick Ratio NaN
Current Ratio 0.3
LT Debt to Equity 137.4%
Total Debt to Equity 137.4%
Interest Coverage -1
Management Effectiveness
Return On Assets -0%
Ret/ On Assets - 3 Yr. Avg. 1.9%
Return On Total Capital -3.5%
Ret/ On T. Cap. - 3 Yr. Avg. 0.2%
Return On Equity -9.3%
Return On Equity - 3 Yr. Avg. 3.7%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 68%
Gross Margin - 3 Yr. Avg. 75%
EBITDA Margin 77.3%
EBITDA Margin - 3 Yr. Avg. 108.2%
Operating Margin -3.9%
Oper. Margin - 3 Yr. Avg. -9.9%
Pre-Tax Margin -85.2%
Pre-Tax Margin - 3 Yr. Avg. -8.4%
Net Profit Margin -33.6%
Net Profit Margin - 3 Yr. Avg. -7.9%
Effective Tax Rate 22%
Eff/ Tax Rate - 3 Yr. Avg. 19.1%
Payout Ratio -4.7%

JONE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JONE stock intrinsic value calculation we used $128 million for the last fiscal year's total revenue generated by Jones Energy Cl A. The default revenue input number comes from 2016 income statement of Jones Energy Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JONE stock valuation model: a) initial revenue growth rate of 33.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.2%, whose default value for JONE is calculated based on our internal credit rating of Jones Energy Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Jones Energy Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JONE stock the variable cost ratio is equal to 154.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for JONE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.9% for Jones Energy Cl A.

Corporate tax rate of 27% is the nominal tax rate for Jones Energy Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JONE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JONE are equal to 1322.3%.

Life of production assets of 11 years is the average useful life of capital assets used in Jones Energy Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JONE is equal to -34.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $527 million for Jones Energy Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 91.827 million for Jones Energy Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Jones Energy Cl A at the current share price and the inputted number of shares is $0.1 billion.

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PHX Panhandle Oil& 21.30 1.70  str.sell
PAA Plains All Ame 22.49 3.80  str.sell
NGL NGL Energy Par 16.00 333.14  str.buy

COMPANY NEWS

▶ Upstream Gainers This Week: Whiting Petroleum Leads   [Jan-17-18 02:46PM  Market Realist]
▶ What Wall Street Recommends for NOG, JONE, FTK, and WFT   [Jan-05-18 07:34AM  Market Realist]
▶ These Stocks Are the Biggest Upstream Losers This Week   [Jan-04-18 09:30AM  Market Realist]
▶ Uptrend in ConocoPhillips Stock Might Take a Breather   [Nov-14-17 08:18AM  Market Realist]
▶ Upstream Gainers this Week: California Resources Leads   [Nov-08-17 04:15PM  Market Realist]
▶ Upstream Losers: JONE, TELL, KOS, LPI, and ERF   [Oct-04-17 01:35PM  Market Realist]
▶ Upstream Gainers this Week: Jones Energy Leads   [Sep-28-17 05:41PM  Market Realist]
▶ Upstream Gainers This Week: Jones Energy Leads the Pack   [Sep-21-17 12:24PM  Market Realist]
▶ Analysts Recommendations for Energy Stocks: September 815   [Sep-19-17 01:18PM  Market Realist]
▶ 30-Day Trading Ranges for JONE, HES, SN, DNR, and AREX   [Sep-15-17 09:11AM  Market Realist]
▶ E&P Midcap Earnings: The Good, The Bad & The Not So Ugly   [Aug-08-17 02:38PM  Barrons.com]
▶ ETFs with exposure to Jones Energy, Inc. : May 22, 2017   [May-22-17 01:49PM  Capital Cube]
▶ ETFs with exposure to Jones Energy, Inc. : May 11, 2017   [May-11-17 04:58PM  Capital Cube]
▶ Jones Energy reports 1Q loss   [May-04-17 05:03AM  Associated Press]
▶ ETFs with exposure to Jones Energy, Inc. : April 25, 2017   [Apr-25-17 03:37PM  Capital Cube]
▶ ETFs with exposure to Jones Energy, Inc. : April 12, 2017   [Apr-12-17 01:12PM  Capital Cube]
▶ ETFs with exposure to Jones Energy, Inc. : March 30, 2017   [Mar-29-17 08:32PM  Capital Cube]
▶ Jones Energy reports 4Q loss   [Mar-08-17 07:34PM  Associated Press]
▶ Continental Resources to Sell Oklahoma Oil and Gas Assets   [Feb-23-17 08:36AM  TheStreet.com]
▶ Oil and Gas Stock Roundup: Not Everyone Is Optimistic   [Feb-18-17 10:00AM  Motley Fool]
▶ Heres What Smart Money Think about Jones Energy Inc (JONE)   [Dec-12-16 05:45PM  at Insider Monkey]
Financial statements of JONE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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