C&J Energy Services (CJ) Rating Increased to Buy at Zacks Investment Research
C&J Energy Services (NYSE:CJ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $36.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 14.21% 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. “
CJ has been the subject of several other reports. Morgan Stanley upgraded shares of C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Tuesday, November 14th. Jefferies Group reaffirmed a “buy” rating and set a $36.00 target price on shares of C&J Energy Services in a report on Friday, October 6th. Guggenheim started coverage on shares of C&J Energy Services in a report on Thursday, September 7th. They set a “buy” rating and a $37.00 target price for the company. Deutsche Bank reaffirmed a “buy” rating and set a $39.00 target price on shares of C&J Energy Services in a report on Tuesday, October 10th. Finally, Citigroup lifted 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 report on Thursday, November 16th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently 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 data on Thursday, November 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.07 by $0.10. The business had revenue of $442.70 million for the quarter, compared to analyst estimates of $445.87 million. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. equities research analysts expect that C&J Energy Services will post -0.05 earnings per share for the current year.
In related news, insider Ed Keppler sold 3,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $30.21, for a total value of $105,735.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tim Wallace sold 2,000 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $29.56, for a total transaction of $59,120.00. Following the completion of the sale, the insider now directly owns 12,248 shares of the company’s stock, valued at approximately $362,050.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,317,139 shares of company stock valued at $38,914,136.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its holdings in C&J Energy Services by 8.1% in the 3rd quarter. American International Group Inc. now owns 31,119 shares of the company’s stock worth $933,000 after acquiring an additional 2,327 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in C&J Energy Services by 10.1% in the 3rd 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in C&J Energy Services by 0.5% in the 3rd 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in C&J Energy Services in the 2nd quarter worth $140,000. Finally, Quantbot Technologies LP purchased a new stake in C&J Energy Services in the 2nd quarter worth $144,000.
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About C&J Energy Services
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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