Jones Energy Inc. (NYSE: JONE) announced the pricing for its secondary offering of 5 million shares of class A common stock, with an overallotment option for an additional 750,000 shares. The shares being sold in the offering are owned entirely by the selling stockholders, affiliates of Metalmark Capital, who will receive all the proceeds.

Shares will be sold to the public at a price of $10 per share, valuing the offering up to $57.5 million, excluding costs associated with the offering. J.P. Morgan will act as the sole underwriter for the offering.

Prior to this offering, there was a total of about 25.3 million shares of class A common stock outstanding. After this offering, there will be 30.3 million shares outstanding, or 31.1 million if the overallotment option is exercised.

Jones Energy is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma.

Looking at the chart, Jones Energy has taken a big dip over the past 52-weeks. Comparing prices from a year ago ($16.35) to Wednesday’s close ($11.35), shares are down about 31%, and this offering is pushing them even lower.

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A few analysts have weighed in on Jones Energy recently:

• SunTrust reiterated a Buy rating and raised its price target to $14 from $13.
• Zacks downgraded Jones Energy to a Hold rating from Sell.
• Imperial Capital has a Buy rating and raised its price target to $13 from $12.
• Global Hunter Securities initiated coverage with a $13 price target.

Shares of Jones were down 12% Thursday, at $9.98 in a 52-week trading range of $7.74 to $20.79. The stock has a consensus analyst price target of $12.55.

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