Credit Suisse Group Increases C&J Energy Services (CJ) Price Target to $27.00
C&J Energy Services (NYSE:CJ) had its price objective lifted by research analysts at Credit Suisse Group from $25.00 to $27.00 in a report issued on Monday. The brokerage presently has a “buy” rating on the stock. Credit Suisse Group’s price objective suggests a potential upside of 19.36% from the company’s previous close.
Several other research analysts have also commented on CJ. ValuEngine lowered shares of C&J Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, June 15th. Wells Fargo & Co reiterated a “market perform” rating on shares of C&J Energy Services in a research report on Friday, June 29th. Zacks Investment Research downgraded C&J Energy Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 4th. Guggenheim downgraded C&J Energy Services from a “buy” rating to a “neutral” rating in a report on Friday, July 6th. Finally, Citigroup downgraded shares of C&J Energy Services from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $35.92.
NYSE CJ opened at $22.62 on Monday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 15.18 and a beta of 0.69. C&J Energy Services has a 52 week low of $18.86 and a 52 week high of $36.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CJ. BlackRock Inc. boosted its holdings in C&J Energy Services by 139.2% during the 2nd quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock valued at $215,387,000 after acquiring an additional 5,310,518 shares during the period. Point72 Asset Management L.P. raised its position in shares of C&J Energy Services by 134.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,041,980 shares of the company’s stock worth $71,791,000 after acquiring an additional 1,745,390 shares in the last quarter. Citadel Advisors LLC increased its position in C&J Energy Services by 118.5% during the first quarter. Citadel Advisors LLC now owns 2,606,573 shares of the company’s stock worth $67,302,000 after buying an additional 1,413,368 shares during the period. Millennium Management LLC increased its position in C&J Energy Services by 1,427.2% during the first quarter. Millennium Management LLC now owns 1,424,834 shares of the company’s stock worth $36,789,000 after buying an additional 1,331,537 shares during the period. Finally, Van ECK Associates Corp acquired a new position in C&J Energy Services during the first quarter worth approximately $32,303,000. Institutional investors and hedge funds own 99.75% of the company’s stock.
C&J Energy Services Company Profile
C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments. The Completion Services segment provides hydraulic fracturing; cased-hole solutions comprising cased-hole wireline, pumpdown, wireline logging, perforating, pressure pumping, well site make-up and pressure testing, and other complementary services; and well construction and intervention services, which include cementing, coiled tubing, and directional drilling services.
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