C&J Energy Services, Inc. (CJ) Lifted to Overweight at Morgan Stanley
C&J Energy Services, Inc. (NYSE:CJ) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $44.00 target price on the stock. Morgan Stanley’s target price would suggest a potential upside of 44.59% from the stock’s current price.
A number of other research firms have also recently commented on CJ. Zacks Investment Research upgraded C&J Energy Services from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $38.00 price objective on shares of C&J Energy Services in a report on Monday. Scotiabank reissued a “hold” rating on shares of C&J Energy Services in a report on Tuesday, October 10th. Deutsche Bank AG reissued a “buy” rating and issued a $39.00 price objective on shares of C&J Energy Services in a report on Tuesday, October 10th. Finally, Guggenheim started coverage on C&J Energy Services in a report on Thursday, September 7th. They issued a “buy” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. C&J Energy Services presently has an average rating of “Buy” and a consensus target price of $39.92.
C&J Energy Services (NYSE CJ) traded up $0.08 during trading on Tuesday, reaching $30.43. The company’s stock had a trading volume of 480,900 shares, compared to its average volume of 685,646. C&J Energy Services has a 52 week low of $24.30 and a 52 week high of $46.30.
C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. The business had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $445.87 million. During the same quarter last year, the business posted ($0.61) earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. equities research analysts predict that C&J Energy Services will post -0.24 EPS for the current year.
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In other news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $29.83, for a total value of $889,202.47. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 229,809 shares of company stock worth $6,724,452 over the last three months.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in C&J Energy Services during the second quarter worth about $155,777,000. BlackRock Inc. grew its holdings in C&J Energy Services by 43,395.0% during the second 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 during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in C&J Energy Services by 31.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,331,707 shares of the company’s stock worth $99,851,000 after acquiring an additional 799,417 shares during the period. Wells Fargo & Company MN grew its holdings in C&J Energy Services by 53.6% during the third quarter. Wells Fargo & Company MN now owns 3,296,492 shares of the company’s stock worth $98,795,000 after acquiring an additional 1,150,327 shares during the period. Finally, Citadel Advisors LLC grew its holdings in C&J Energy Services by 295.0% during the second 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 during the period.
C&J Energy Services Company Profile
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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