C&J Energy Services, Inc. (NYSE:CJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Several other research firms have also recently weighed in on CJ. Jefferies Group LLC assumed coverage on shares of C&J Energy Services in a research report on Thursday, July 13th. They set a “buy” rating and a $43.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and set a $38.00 price objective (down previously from $44.00) on shares of C&J Energy Services in a research report on Wednesday, June 21st. Scotiabank restated a “hold” rating on shares of C&J Energy Services in a research report on Tuesday. Deutsche Bank AG restated a “buy” rating and set a $39.00 price objective on shares of C&J Energy Services in a research report on Tuesday. Finally, Guggenheim assumed coverage on shares of C&J Energy Services in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. C&J Energy Services has a consensus rating of “Buy” and an average price target of $39.25.

C&J Energy Services (CJ) traded up 2.09% during mid-day trading on Wednesday, hitting $29.81. 263,965 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $28.02 and its 200-day moving average price is $30.86. The stock has a market cap of $1.89 billion and a PE ratio of 92.01. C&J Energy Services has a 12 month low of $24.30 and a 12 month high of $46.30.

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In related news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $29.83, for a total transaction of $889,202.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

A number of institutional investors have recently made changes to their positions in CJ. Ameritas Investment Partners Inc. bought a new stake in C&J Energy Services in the 2nd quarter worth $140,000. Quantbot Technologies LP bought a new stake in C&J Energy Services in the 2nd quarter worth $144,000. SG Americas Securities LLC bought a new stake in C&J Energy Services in the 2nd quarter worth $152,000. US Bancorp DE bought a new stake in C&J Energy Services in the 2nd quarter worth $168,000. Finally, BNP Paribas Arbitrage SA bought a new stake in C&J Energy Services in the 2nd quarter worth $199,000.

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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Analyst Recommendations for C&J Energy Services (NYSE:CJ)

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