C&J Energy Services, Inc. (NYSE:CJ) Downgraded to “Sell” at Zacks Investment Research

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.

Shares of C&J Energy Services (CJ) opened at $29.19 on Thursday. C&J Energy Services has a 12 month low of $24.30 and a 12 month high of $46.30.

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.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by BBNS and is the sole property of of BBNS. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://baseballnewssource.com/markets/cj-energy-services-inc-cj-lowered-to-sell-at-zacks-investment-research/1752531.html.

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.

Get a free copy of the Zacks research report on C&J Energy Services (CJ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for C&J Energy Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C&J Energy Services Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.