C&J Energy Services, Inc. (CJ) Major Shareholder Alternative Asset Manage Solus Sells 449,300 Shares

C&J Energy Services, Inc. (NYSE:CJ) major shareholder Alternative Asset Manage Solus sold 449,300 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.62, for a total transaction of $13,308,266.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alternative Asset Manage Solus also recently made the following trade(s):

  • On Tuesday, November 21st, Alternative Asset Manage Solus sold 632,530 shares of C&J Energy Services stock. The shares were sold at an average price of $29.59, for a total transaction of $18,716,562.70.
  • On Tuesday, October 17th, Alternative Asset Manage Solus sold 25,000 shares of C&J Energy Services stock. The shares were sold at an average price of $28.80, for a total transaction of $720,000.00.
  • On Wednesday, September 20th, Alternative Asset Manage Solus sold 29,809 shares of C&J Energy Services stock. The shares were sold at an average price of $29.83, for a total transaction of $889,202.47.
  • On Thursday, September 21st, Alternative Asset Manage Solus sold 175,000 shares of C&J Energy Services stock. The shares were sold at an average price of $29.23, for a total transaction of $5,115,250.00.

Shares of C&J Energy Services, Inc. (NYSE:CJ) traded down $0.33 during trading on Tuesday, hitting $29.19. 619,486 shares of the stock traded hands, compared to its average volume of 684,009. C&J Energy Services, Inc. has a 1-year low of $24.30 and a 1-year high of $46.30.

C&J Energy Services (NYSE:CJ) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.10. The business had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $445.87 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.61) EPS. equities research analysts forecast that C&J Energy Services, Inc. will post -0.06 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of CJ. US Bancorp DE purchased a new position in shares of C&J Energy Services during the 2nd quarter worth $168,000. Russell Investments Group Ltd. lifted its stake in shares of C&J Energy Services by 155.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 37,588 shares of the company’s stock valued at $1,288,000 after buying an additional 22,847 shares in the last quarter. Parkwood LLC lifted its stake in shares of C&J Energy Services by 114.5% during the 2nd quarter. Parkwood LLC now owns 37,905 shares of the company’s stock valued at $1,299,000 after buying an additional 20,233 shares in the last quarter. NGAM Advisors L.P. lifted its stake in shares of C&J Energy Services by 67.8% during the 2nd quarter. NGAM Advisors L.P. now owns 97,363 shares of the company’s stock valued at $3,336,000 after buying an additional 39,328 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of C&J Energy Services during the 2nd quarter valued at $8,701,000.

CJ has been the subject of a number of analyst reports. Citigroup Inc. raised their target price on shares of C&J Energy Services from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Deutsche Bank AG reissued a “buy” rating and set a $39.00 price target on shares of C&J Energy Services in a research report on Tuesday, October 10th. Jefferies Group LLC reissued a “buy” rating and set a $36.00 price target on shares of C&J Energy Services in a research report on Friday, October 6th. Guggenheim began coverage on shares of C&J Energy Services in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 price target for the company. Finally, Zacks Investment Research raised shares of C&J Energy Services from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. C&J Energy Services presently has a consensus rating of “Buy” and an average price target of $40.25.

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.

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