C&J Energy Services (CJ) Given a $29.00 Price Target at Piper Jaffray Companies

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Piper Jaffray Companies set a $29.00 price target on C&J Energy Services (NYSE:CJ) in a research note released on Tuesday. The firm currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for C&J Energy Services’ Q4 2018 earnings at ($0.16) EPS, Q1 2019 earnings at ($0.19) EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.20 EPS, Q1 2020 earnings at $0.29 EPS, Q2 2020 earnings at $0.37 EPS, Q3 2020 earnings at $0.41 EPS and FY2020 earnings at $1.52 EPS.

Other analysts have also issued research reports about the stock. Johnson Rice initiated coverage on shares of C&J Energy Services in a research report on Monday, September 17th. They set an accumulate rating and a $26.00 price target on the stock. BMO Capital Markets dropped their target price on shares of C&J Energy Services from $30.00 to $28.00 and set a buy rating on the stock in a research report on Thursday, August 30th. Jefferies Financial Group set a $25.00 target price on shares of C&J Energy Services and gave the company a buy rating in a research report on Wednesday, October 3rd. Credit Suisse Group lifted their target price on shares of C&J Energy Services from $25.00 to $27.00 and gave the company a buy rating in a research report on Monday, September 24th. Finally, Bank of America initiated coverage on shares of C&J Energy Services in a research report on Wednesday, October 17th. They issued a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $33.69.

CJ stock opened at $19.98 on Tuesday. The firm has a market cap of $1.36 billion, a P/E ratio of -141.64, a PEG ratio of 0.24 and a beta of 0.78. C&J Energy Services has a one year low of $16.82 and a one year high of $36.57.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $567.92 million for the quarter, compared to analyst estimates of $586.66 million. C&J Energy Services had a net margin of 5.24% and a return on equity of 7.19%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Equities analysts expect that C&J Energy Services will post 0.92 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Point Capital Management LP boosted its position in C&J Energy Services by 5.5% during the second quarter. Sound Point Capital Management LP now owns 543,250 shares of the company’s stock worth $12,821,000 after acquiring an additional 28,220 shares during the last quarter. Texas Permanent School Fund acquired a new position in C&J Energy Services during the second quarter worth about $969,000. Royce & Associates LP acquired a new position in C&J Energy Services during the second quarter worth about $545,000. BlackRock Inc. boosted its position in C&J Energy Services by 139.2% during the second quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock worth $215,387,000 after acquiring an additional 5,310,518 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in C&J Energy Services by 82.0% during the first quarter. Guggenheim Capital LLC now owns 31,728 shares of the company’s stock worth $820,000 after acquiring an additional 14,295 shares during the last quarter. 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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Analyst Recommendations for C&J Energy Services (NYSE:CJ)

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