Zacks Investment Research upgraded shares of C&J Energy Services (NYSE:CJ) from a hold rating to a buy rating in a research note released on Friday morning. The firm currently has $36.00 target price on the stock.
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. “
Several other brokerages have also recently weighed in on CJ. Guggenheim started coverage on C&J Energy Services in a research report on Thursday, September 7th. They set a buy rating and a $37.00 price target on the stock. Scotiabank reiterated a hold rating on shares of C&J Energy Services in a research report on Tuesday, October 10th. Morgan Stanley upgraded C&J Energy Services from an equal weight rating to an overweight rating and set a $44.00 price target on the stock in a research report on Tuesday, November 14th. Citigroup upped their price target on C&J Energy Services from $36.00 to $40.00 and gave the company a buy rating in a research report on Thursday, November 16th. Finally, Evercore ISI reiterated an outperform rating and set a $42.00 price target on shares of C&J Energy Services in a research report on Thursday, December 7th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $40.50.
C&J Energy Services (NYSE:CJ) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.10. The company had revenue of $442.70 million for the quarter, compared to the consensus estimate of $445.87 million. During the same quarter in the prior year, the company earned ($0.61) earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. equities research analysts forecast that C&J Energy Services will post -0.05 EPS for the current year.
In other C&J Energy Services news, insider Tim Wallace sold 2,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.56, for a total transaction of $59,120.00. Following the transaction, the insider now directly owns 12,248 shares in the company, valued at $362,050.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $29.83, for a total transaction of $889,202.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,317,139 shares of company stock worth $38,914,136.
A number of hedge funds and other institutional investors have recently modified their holdings of CJ. US Bancorp DE bought a new position in C&J Energy Services during the second quarter valued at approximately $168,000. Russell Investments Group Ltd. grew its position 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 valued at $1,288,000 after acquiring an additional 22,847 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in C&J Energy Services during the second quarter valued at approximately $8,701,000. Rhumbline Advisers bought a new position in C&J Energy Services during the second quarter valued at approximately $1,905,000. Finally, Dupont Capital Management Corp bought a new position in C&J Energy Services during the second quarter valued at approximately $343,000.
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.
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