Shares of C&J Energy Services Inc (NYSE:CJ) rose 5.7% on Friday . The company traded as high as $24.45 and last traded at $24.25. Approximately 3,274,500 shares traded hands during trading, an increase of 196% from the average daily volume of 1,105,209 shares. The stock had previously closed at $22.95.
A number of brokerages have recently commented on CJ. ValuEngine upgraded shares of C&J Energy Services from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. Zacks Investment Research lowered shares of C&J Energy Services from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Morgan Stanley cut their price target on shares of C&J Energy Services from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 11th. Citigroup lifted their price target on shares of C&J Energy Services from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Finally, Piper Jaffray Companies set a $35.00 price target on shares of C&J Energy Services and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.75.
Get C&J Energy Services alerts:The firm has a market cap of $1.66 billion, a PE ratio of -173.21 and a beta of 0.90.
C&J Energy Services (NYSE:CJ) last released its earnings results on Thursday, May 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $553.00 million for the quarter, compared to analyst estimates of $538.14 million. C&J Energy Services had a net margin of 4.01% and a return on equity of 4.72%. The company’s revenue was up 76.0% on a year-over-year basis. sell-side analysts expect that C&J Energy Services Inc will post 2.98 earnings per share for the current year.
In related news, insider Tim Wallace sold 1,500 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $25.15, for a total value of $37,725.00. Following the transaction, the insider now owns 23,360 shares in the company, valued at $587,504. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.05% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CJ. Citadel Advisors LLC raised its holdings in shares of C&J Energy Services by 118.5% during the first quarter. Citadel Advisors LLC now owns 2,606,573 shares of the company’s stock valued at $67,302,000 after purchasing an additional 1,413,368 shares during the period. Millennium Management LLC raised its holdings in shares of C&J Energy Services by 1,427.2% during the first quarter. Millennium Management LLC now owns 1,424,834 shares of the company’s stock valued at $36,789,000 after purchasing an additional 1,331,537 shares during the period. Van ECK Associates Corp acquired a new position in shares of C&J Energy Services during the first quarter valued at about $32,303,000. Point72 Asset Management L.P. raised its holdings in shares of C&J Energy Services by 347.5% during the first quarter. Point72 Asset Management L.P. now owns 1,296,590 shares of the company’s stock valued at $33,478,000 after purchasing an additional 1,006,878 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of C&J Energy Services by 13.5% during the fourth quarter. BlackRock Inc. now owns 4,500,188 shares of the company’s stock valued at $150,624,000 after purchasing an additional 535,243 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.
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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