C&J Energy Services, Inc. (NYSE:CJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 analysts have also weighed in on the company. Jefferies Group LLC started coverage on C&J Energy Services in a research report on Thursday, July 13th. They issued a “buy” rating and a $43.00 price objective for the company. Deutsche Bank AG restated a “buy” rating and set a $39.00 price target on shares of C&J Energy Services in a research report on Tuesday, October 10th. Scotiabank restated a “hold” rating on shares of C&J Energy Services in a research report on Tuesday, October 10th. Guggenheim started coverage on C&J Energy Services in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 price target for the company. Finally, Citigroup Inc. restated a “buy” rating and set a $36.00 price target (down from $39.00) on shares of C&J Energy Services in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.25.

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In other news, major shareholder Alternative Asset Manage Solus sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $28.80, for a total transaction of $720,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 229,809 shares of company stock valued at $6,724,452.

Several hedge funds and other institutional investors have recently made changes to their positions in CJ. Sprott Inc. acquired a new stake in shares of C&J Energy Services in the second quarter valued at $6,169,000. US Bancorp DE acquired a new stake in shares of C&J Energy Services in the second quarter valued at $168,000. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 22,847 shares in the last quarter. Parkwood LLC raised its stake 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 acquiring an additional 20,233 shares in the last quarter. Finally, NGAM Advisors L.P. raised its stake in shares of C&J Energy Services by 67.8% in the second quarter. NGAM Advisors L.P. now owns 97,363 shares of the company’s stock valued at $3,336,000 after acquiring an additional 39,328 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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Analyst Recommendations for C&J Energy Services (NYSE:CJ)

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