ValuEngine downgraded shares of C&J Energy Services (NYSE:CJ) from a sell rating to a strong sell rating in a research note released on Friday morning.
CJ has been the topic of several other reports. Citigroup boosted their price objective on shares of C&J Energy Services from $25.00 to $26.00 and gave the company a neutral rating in a report on Friday, August 10th. Wells Fargo & Co reiterated a market perform rating on shares of C&J Energy Services in a research note on Friday, June 29th. BMO Capital Markets cut their price target on shares of C&J Energy Services from $30.00 to $28.00 and set a buy rating on the stock in a research note on Thursday, August 30th. Seaport Global Securities started coverage on shares of C&J Energy Services in a research note on Friday, May 25th. They set a buy rating and a $50.00 price target on the stock. Finally, Piper Jaffray Companies set a $34.00 price target on shares of C&J Energy Services and gave the stock a buy rating in a research note on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. C&J Energy Services presently has an average rating of Hold and a consensus target price of $37.17.
Shares of CJ stock traded down $0.24 on Friday, hitting $19.30. 1,027,737 shares of the stock traded hands, compared to its average volume of 814,536. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -137.86 and a beta of 0.66. C&J Energy Services has a twelve month low of $18.86 and a twelve month high of $36.57.
C&J Energy Services (NYSE:CJ) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $610.52 million for the quarter, compared to analyst estimates of $598.66 million. C&J Energy Services had a net margin of 5.56% and a return on equity of 7.52%. The company’s revenue was up 56.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) EPS. analysts expect that C&J Energy Services will post 1.2 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of C&J Energy Services by 184.5% during the second quarter. Bank of New York Mellon Corp now owns 772,037 shares of the company’s stock worth $18,220,000 after buying an additional 500,647 shares during the period. California Public Employees Retirement System purchased a new stake in shares of C&J Energy Services during the second quarter worth approximately $1,256,000. GMT Capital Corp increased its stake in shares of C&J Energy Services by 37.9% during the second quarter. GMT Capital Corp now owns 682,500 shares of the company’s stock worth $16,107,000 after buying an additional 187,500 shares during the period. Lingohr & Partner Asset Management GmbH purchased a new stake in shares of C&J Energy Services during the second quarter worth approximately $1,406,000. Finally, MetLife Investment Advisors LLC increased its stake in shares of C&J Energy Services by 28.4% during the second quarter. MetLife Investment Advisors LLC now owns 30,083 shares of the company’s stock worth $710,000 after buying an additional 6,661 shares during the period. Hedge funds and other institutional investors own 99.75% of the company’s stock.
About C&J Energy Services
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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