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Jones Energy regains NYSE compliance via stock split, shares surge

The energy company received a deficiency notification from the NYSE after its 30-day average closing price fell below $1
Oil equipment
The oil and natural gas company operates properties in the Anadarko basin of Oklahoma and Texas

Jones Energy Inc (NYSE:JONE) has received notice from the New York Stock Exchange that it's back in regulatory compliance, sending its shares soaring double digits.

Shares of the Texas-based company rose more than 20% to $7.93 in Tuesday Morning trading.

The energy company received a deficiency notification from the NYSE in March because the average closing price per share of its Class A common stock had been below $1 over the previous 30 trading days.

The company boosted its share price via a 20-for-1 reverse stock split, bringing its average closing price over the $1 mark.

The independent oil and natural gas company is involved in the exploration, development and acquisition of properties in the Anadarko basin of Oklahoma and Texas.

 

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