Jefferies Group Comments on C&J Energy Services, Inc.’s Q3 2017 Earnings (CJ)
C&J Energy Services, Inc. (NYSE:CJ) – Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for shares of C&J Energy Services in a report issued on Thursday. Jefferies Group analyst B. Handler now expects that the company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.12. Jefferies Group has a “Buy” rating and a $36.00 price target on the stock. Jefferies Group also issued estimates for C&J Energy Services’ Q4 2017 earnings at $0.16 EPS and Q1 2018 earnings at $0.27 EPS.
Several other equities research analysts also recently issued reports on CJ. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price target (down previously from $44.00) on shares of C&J Energy Services in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of C&J Energy Services from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Citigroup Inc. reaffirmed a “buy” rating and set a $36.00 price target (down previously from $39.00) on shares of C&J Energy Services in a research note on Friday, August 11th. Finally, Guggenheim started coverage on shares of C&J Energy Services in a research note on Thursday, September 7th. They set a “buy” rating and a $37.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.27.
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C&J Energy Services (NYSE:CJ) opened at 28.73 on Friday. C&J Energy Services has a 52 week low of $24.30 and a 52 week high of $46.30. The company’s 50 day moving average is $27.82 and its 200-day moving average is $30.89. The firm has a market cap of $1.82 billion and a P/E ratio of 88.67.
A number of hedge funds have recently made changes to their positions in CJ. Vanguard Group Inc. acquired a new position in C&J Energy Services during the 2nd quarter worth $155,777,000. BlackRock Inc. grew its holdings in C&J Energy Services by 43,395.0% during the 2nd quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock worth $118,380,000 after acquiring an additional 3,446,431 shares in the last quarter. Wells Fargo & Company MN grew its holdings in C&J Energy Services by 42,247.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,146,165 shares of the company’s stock worth $73,549,000 after acquiring an additional 2,141,097 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in C&J Energy Services by 434.1% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,532,290 shares of the company’s stock worth $86,782,000 after acquiring an additional 2,058,190 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in C&J Energy Services by 295.0% during the 2nd quarter. Citadel Advisors LLC now owns 1,789,008 shares of the company’s stock worth $61,309,000 after acquiring an additional 1,336,039 shares in the last quarter.
In related news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of C&J Energy Services stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $29.83, for a total transaction of $889,202.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
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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