Citadel Advisors LLC reduced its position in C&J Energy Services Inc (NYSE:CJ) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,711,177 shares of the company’s stock after selling 77,831 shares during the period. Citadel Advisors LLC owned approximately 2.71% of C&J Energy Services worth $51,284,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Concourse Capital Management LLC raised its stake in shares of C&J Energy Services by 296.8% during the 3rd quarter. Concourse Capital Management LLC now owns 122,930 shares of the company’s stock worth $3,684,000 after purchasing an additional 91,950 shares during the period. JPMorgan Chase & Co. increased its holdings in C&J Energy Services by 5,075.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 126,086 shares of the company’s stock worth $3,828,000 after acquiring an additional 123,650 shares during the last quarter. Legal & General Group Plc increased its holdings in C&J Energy Services by 77.0% in the 3rd quarter. Legal & General Group Plc now owns 18,760 shares of the company’s stock worth $562,000 after acquiring an additional 8,163 shares during the last quarter. GMT Capital Corp increased its holdings in C&J Energy Services by 17.4% in the 3rd quarter. GMT Capital Corp now owns 328,300 shares of the company’s stock worth $9,839,000 after acquiring an additional 48,700 shares during the last quarter. Finally, Ashburton Jersey Ltd purchased a new stake in C&J Energy Services in the 3rd quarter worth about $809,000.
In other news, major shareholder Alternative Asset Manage Solus sold 449,300 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $29.62, for a total transaction of $13,308,266.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tim Wallace sold 2,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $29.56, for a total value of $59,120.00. Following the transaction, the insider now directly owns 12,248 shares in the company, valued at $362,050.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,317,139 shares of company stock worth $38,914,136.
C&J Energy Services Inc (CJ) opened at $31.79 on Wednesday. C&J Energy Services Inc has a 12 month low of $24.30 and a 12 month high of $46.30.
C&J Energy Services (NYSE:CJ) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.10. The firm had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $445.87 million. C&J Energy Services’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.61) earnings per share. research analysts expect that C&J Energy Services Inc will post -0.05 EPS for the current year.
CJ has been the subject of a number of recent analyst reports. Citigroup lifted their target price on C&J Energy Services from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Deutsche Bank reiterated 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. Jefferies Group reiterated a “buy” rating and set a $36.00 price target on shares of C&J Energy Services in a research report on Friday, October 6th. Guggenheim began 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, Zacks Investment Research upgraded C&J Energy Services from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.25.
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C&J Energy Services 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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