C&J Energy Services, Inc. (NYSE:CJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, November 2nd.
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 issued reports on CJ. Jefferies Group LLC initiated coverage on shares of C&J Energy Services in a research note on Thursday, July 13th. They set a “buy” rating and a $43.00 target price for the company. Deutsche Bank AG reaffirmed 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. Scotiabank reaffirmed a “hold” rating on shares of C&J Energy Services in a research report on Tuesday, October 10th. Guggenheim assumed coverage on shares of C&J Energy Services in a report on Thursday, September 7th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Citigroup Inc. reissued a “buy” rating and issued a $36.00 target price (down from $39.00) on shares of C&J Energy Services in a report on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $40.25.
C&J Energy Services (NYSE:CJ) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.61) EPS. analysts forecast that C&J Energy Services will post -0.06 earnings per share for the current fiscal year.
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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 632,530 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $29.59, for a total transaction of $18,716,562.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,317,139 shares of company stock worth $38,914,136.
Several institutional investors have recently modified their holdings of the company. American International Group Inc. grew its holdings in shares of C&J Energy Services by 8.1% in the third quarter. American International Group Inc. now owns 31,119 shares of the company’s stock worth $933,000 after purchasing an additional 2,327 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in C&J Energy Services by 10.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,292 shares of the company’s stock worth $818,000 after acquiring an additional 2,505 shares during the period. Ameriprise Financial Inc. lifted its stake in C&J Energy Services by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 522,270 shares of the company’s stock worth $15,652,000 after acquiring an additional 2,780 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in C&J Energy Services in the second quarter worth $140,000. Finally, Quantbot Technologies LP purchased a new stake in C&J Energy Services in the second quarter worth $144,000.
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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