C&J Energy Services, Inc. (CJ) Upgraded to Buy at Zacks Investment Research
C&J Energy Services, Inc. (NYSE:CJ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $32.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 9.59% from the stock’s previous close.
According to Zacks, “C&J Energy Services, Inc. is a provider of on-shore well construction, well completion, well support and other complementary oilfield services to oil and gas exploration and production companies. It offers hydraulic fracturing, cased-hole wireline, coiled tubing, cementing, rig services, fluids management services and other special well site services. The company operates primarily in United States and Western Canada. C&J Energy Services, Inc. is based in Houston, United States. “
Other research analysts have also issued research reports about the company. Scotiabank reiterated a “hold” rating on shares of C&J Energy Services in a report on Tuesday. Deutsche Bank AG reiterated a “buy” rating and issued a $39.00 price target on shares of C&J Energy Services in a report on Tuesday. Citigroup Inc. reiterated a “buy” rating and issued a $36.00 price target (down previously from $39.00) on shares of C&J Energy Services in a report on Friday, August 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 price target (down previously from $44.00) on shares of C&J Energy Services in a report on Wednesday, June 21st. Finally, Jefferies Group LLC began coverage on C&J Energy Services in a report on Thursday, July 13th. They issued a “buy” rating and a $43.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. C&J Energy Services currently has a consensus rating of “Buy” and an average target price of $39.25.
C&J Energy Services (CJ) traded up 0.72% during midday trading on Tuesday, reaching $29.20. The company’s stock had a trading volume of 251,508 shares. The firm has a market cap of $1.85 billion and a P/E ratio of 90.12. The firm has a 50 day moving average of $27.91 and a 200 day moving average of $30.88. C&J Energy Services has a 52-week low of $24.30 and a 52-week high of $46.30.
In other C&J Energy Services news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $29.83, for a total value of $889,202.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and other institutional investors have recently made changes to their positions in CJ. Ameriprise Financial Inc. purchased a new position in shares of C&J Energy Services in the first quarter valued at $7,993,000. Sprott Inc. purchased a new position in shares of C&J Energy Services in the second quarter valued at $6,169,000. US Bancorp DE purchased a new position in shares of C&J Energy Services in the second quarter valued at $168,000. Russell Investments Group Ltd. grew its position in shares of C&J Energy Services by 155.0% in the second quarter. Russell Investments Group Ltd. now owns 37,588 shares of the company’s stock valued at $1,288,000 after purchasing an additional 22,847 shares in the last quarter. Finally, Parkwood LLC grew its position in shares of C&J Energy Services by 114.5% in the second quarter. Parkwood LLC now owns 37,905 shares of the company’s stock valued at $1,299,000 after purchasing an additional 20,233 shares in the last quarter.
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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