Jefferies Group Reiterates “$40.00” Price Target for C&J Energy Services (CJ)
Jefferies Group set a $40.00 price objective on C&J Energy Services (NYSE:CJ) in a report published on Thursday. The firm currently has a buy rating on the stock. Jefferies Group also issued estimates for C&J Energy Services’ Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.69 EPS and Q4 2018 earnings at $0.71 EPS.
Several other research analysts have also recently weighed in on CJ. 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 price target on the stock. Deutsche Bank restated a buy rating and set a $39.00 price target on shares of C&J Energy Services in a report on Tuesday, October 10th. Scotiabank restated a hold rating on shares of C&J Energy Services in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of C&J Energy Services from a hold rating to a buy rating and set a $32.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Morgan Stanley upgraded shares of C&J Energy Services from an equal weight rating to an overweight rating and set a $44.00 target price on the stock in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $40.67.
C&J Energy Services (NYSE CJ) traded down $0.09 during trading on Thursday, reaching $34.22. 778,200 shares of the company traded hands, compared to its average volume of 653,600. C&J Energy Services has a 1-year low of $24.30 and a 1-year high of $46.30. The stock has a market capitalization of $2,160.00 and a PE ratio of 9.10.
C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.10. The firm had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $445.87 million. During the same quarter last year, the firm posted ($0.61) earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. equities research analysts predict that C&J Energy Services will post -0.04 EPS for the current fiscal year.
In related news, insider Ed Keppler sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $30.21, for a total transaction of $105,735.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alternative Asset Manage Solus sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $28.80, for a total transaction of $720,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,112,330 shares of company stock worth $32,909,684.
Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in C&J Energy Services by 155.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 37,588 shares of the company’s stock worth $1,288,000 after acquiring an additional 22,847 shares during the period. Kennedy Capital Management Inc. bought a new stake in C&J Energy Services during the 2nd quarter worth approximately $5,439,000. State Street Corp bought a new stake in C&J Energy Services during the 2nd quarter worth approximately $19,620,000. Cipher Capital LP bought a new stake in C&J Energy Services during the 3rd quarter worth approximately $283,000. Finally, Concourse Capital Management LLC increased its holdings in C&J Energy Services by 296.8% during the 3rd quarter. Concourse Capital Management LLC now owns 122,930 shares of the company’s stock worth $3,684,000 after acquiring an additional 91,950 shares during the period. Institutional investors own 96.43% of the company’s stock.
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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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