Cleveland Research Downgrades C&J Energy Services (CJ) to Neutral

C&J Energy Services (NYSE:CJ) was downgraded by stock analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports.

Several other brokerages also recently weighed in on CJ. Wells Fargo & Co reaffirmed a “hold” rating on shares of C&J Energy Services in a report on Thursday, September 6th. Citigroup upped their target price on shares of C&J Energy Services from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. BMO Capital Markets decreased 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. ValuEngine upgraded shares of C&J Energy Services from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research upgraded shares of C&J Energy Services from a “sell” rating to a “hold” rating in a report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. C&J Energy Services presently has an average rating of “Hold” and a consensus target price of $34.67.

Shares of CJ stock traded down $0.11 during trading hours on Tuesday, hitting $17.68. 7,261 shares of the company’s stock traded hands, compared to its average volume of 854,632. C&J Energy Services has a 12-month low of $16.87 and a 12-month high of $36.57. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -125.79, a PEG ratio of 0.19 and a beta of 0.64.



C&J Energy Services (NYSE:CJ) last posted its earnings results on Thursday, August 2nd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). C&J Energy Services had a return on equity of 7.52% and a net margin of 5.56%. The company had revenue of $610.52 million during the quarter, compared to the consensus estimate of $598.66 million. During the same period last year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 56.5% on a year-over-year basis. Analysts forecast that C&J Energy Services will post 1.07 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of C&J Energy Services by 139.2% in the second quarter. BlackRock Inc. now owns 9,126,478 shares of the company’s stock valued at $215,387,000 after purchasing an additional 5,310,518 shares in the last quarter. Point72 Asset Management L.P. raised its position in C&J Energy Services by 134.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,041,980 shares of the company’s stock valued at $71,791,000 after purchasing an additional 1,745,390 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in C&J Energy Services by 17.3% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 926,984 shares of the company’s stock valued at $19,281,000 after purchasing an additional 136,834 shares during the last quarter. Northern Trust Corp raised its position in C&J Energy Services by 31.3% in the 2nd quarter. Northern Trust Corp now owns 803,516 shares of the company’s stock valued at $18,963,000 after purchasing an additional 191,744 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in C&J Energy Services by 184.5% during the 2nd 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 last quarter. 99.75% of the stock is currently owned by institutional investors and hedge funds.

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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