C&J Energy Services, Inc. (CJ) Rating Increased to Buy at Zacks Investment Research

C&J Energy Services, Inc. (NYSE:CJ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $32.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.35% from the stock’s previous close.

According to Zacks, “C&J Energy Services, Inc. is a provider of on-shore well construction, well completion, well support and other complementary oilfield services to oil and gas exploration and production companies. It offers hydraulic fracturing, cased-hole wireline, coiled tubing, cementing, rig services, fluids management services and other special well site services. The company operates primarily in United States and Western Canada. C&J Energy Services, Inc. is based in Houston, United States. “

A number of other research firms have also recently commented on CJ. Jefferies Group LLC assumed coverage on C&J Energy Services in a research note on Thursday, July 13th. They set a “buy” rating and a $43.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 target price (down previously from $44.00) on shares of C&J Energy Services in a research note on Wednesday, June 21st. Scotiabank reaffirmed a “hold” rating on shares of C&J Energy Services in a research note on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $39.00 target price on shares of C&J Energy Services in a research note on Tuesday. Finally, Guggenheim assumed coverage on C&J Energy Services in a research note on Thursday, September 7th. They set a “buy” rating and a $37.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $39.25.

Shares of C&J Energy Services (NYSE CJ) opened at 29.81 on Tuesday. The stock has a market cap of $1.89 billion and a PE ratio of 92.01. The firm has a 50-day moving average price of $28.15 and a 200 day moving average price of $30.85. C&J Energy Services has a 12-month low of $24.30 and a 12-month high of $46.30.

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In related news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $29.83, for a total value of $889,202.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in C&J Energy Services by 155.0% during the second quarter. Russell Investments Group Ltd. now owns 37,588 shares of the company’s stock worth $1,288,000 after buying an additional 22,847 shares during the period. Kennedy Capital Management Inc. purchased a new stake in C&J Energy Services during the second quarter worth $5,439,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in C&J Energy Services by 434.1% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 2,532,290 shares of the company’s stock worth $86,782,000 after buying an additional 2,058,190 shares during the period. Parkwood LLC lifted its holdings in C&J Energy Services by 114.5% during the second quarter. Parkwood LLC now owns 37,905 shares of the company’s stock worth $1,299,000 after buying an additional 20,233 shares during the period. Finally, Concourse Capital Management LLC purchased a new stake in C&J Energy Services during the second quarter worth $1,062,000.

C&J Energy Services Company Profile

C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.

Analyst Recommendations for C&J Energy Services (NYSE:CJ)

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