C&J Energy Services (CJ) Price Target Cut to $38.00 by Analysts at Citigroup

C&J Energy Services (NYSE:CJ) had its price target cut by Citigroup from $43.00 to $38.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 56.96% from the company’s previous close.

A number of other brokerages have also weighed in on CJ. BMO Capital Markets reiterated a “buy” rating and issued a $39.00 price target on shares of C&J Energy Services in a report on Tuesday, January 16th. Guggenheim reiterated a “buy” rating and issued a $41.00 price target on shares of C&J Energy Services in a report on Tuesday, January 23rd. Stephens assumed coverage on shares of C&J Energy Services in a report on Tuesday, January 9th. They issued an “overweight” rating and a $42.00 price target on the stock. Jefferies Group set a $40.00 price target on shares of C&J Energy Services and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of C&J Energy Services from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.77.

Shares of C&J Energy Services (NYSE CJ) traded down $1.17 on Tuesday, hitting $24.21. 243,648 shares of the company’s stock were exchanged, compared to its average volume of 800,499. The firm has a market cap of $1,610.00 and a price-to-earnings ratio of 6.47. C&J Energy Services has a 52 week low of $22.99 and a 52 week high of $45.00.

In related news, insider Tim Wallace sold 2,000 shares of C&J Energy Services stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.56, for a total transaction of $59,120.00. Following the transaction, the insider now owns 12,248 shares in the company, valued at approximately $362,050.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Alternative Asset Manage Solus sold 449,300 shares of C&J Energy Services stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.62, for a total transaction of $13,308,266.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,083,830 shares of company stock worth $32,083,949 in the last 90 days.

Several large investors have recently bought and sold shares of the stock. Penn Capital Management Co. Inc. lifted its holdings in shares of C&J Energy Services by 2,766.2% during the 4th quarter. Penn Capital Management Co. Inc. now owns 290,832 shares of the company’s stock valued at $9,748,000 after acquiring an additional 280,685 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in C&J Energy Services in the 4th quarter worth $1,050,000. BlackRock Inc. lifted its holdings in C&J Energy Services by 13.5% in the 4th quarter. BlackRock Inc. now owns 4,500,188 shares of the company’s stock worth $150,624,000 after buying an additional 535,243 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in C&J Energy Services by 27.2% in the 4th quarter. Bank of New York Mellon Corp now owns 265,200 shares of the company’s stock worth $8,877,000 after buying an additional 56,749 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in C&J Energy Services by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,121,450 shares of the company’s stock worth $137,945,000 after buying an additional 824,958 shares in the last quarter. Institutional investors and hedge funds own 96.75% of the company’s stock.

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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.

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

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