C&J Energy Services Inc (NYSE:CJ) – Equities research analysts at Jefferies Group lifted their Q4 2017 earnings per share estimates for C&J Energy Services in a research note issued to investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the company will earn $0.24 per share for the quarter, up from their prior forecast of $0.21. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for C&J Energy Services’ Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.69 EPS and Q4 2018 earnings at $0.71 EPS.
A number of other brokerages have also recently commented on CJ. Stephens began coverage on shares of C&J Energy Services in a research note on Tuesday. They set an “overweight” rating and a $42.00 price target for the company. 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 for the company in a research note on Friday, December 15th. Evercore ISI reaffirmed an “outperform” rating and set a $42.00 price objective on shares of C&J Energy Services in a report on Thursday, December 7th. Morgan Stanley raised shares of C&J Energy Services from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Tuesday, November 14th. Finally, Citigroup raised their price objective on shares of C&J Energy Services from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.77.
C&J Energy Services (CJ) opened at $35.99 on Friday. C&J Energy Services has a one year low of $24.30 and a one year high of $46.30.
C&J Energy Services (NYSE:CJ) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The business had revenue of $442.70 million for the quarter, compared to the consensus estimate of $445.87 million. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.61) EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CJ. Vanguard Group Inc. acquired a new stake in C&J Energy Services during the 2nd quarter worth $155,777,000. BlackRock Inc. grew its holdings in C&J Energy Services by 43,395.0% during the 2nd quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock worth $118,380,000 after acquiring an additional 3,446,431 shares during the period. Wells Fargo & Company MN grew its holdings in C&J Energy Services by 42,247.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,146,165 shares of the company’s stock worth $73,549,000 after acquiring an additional 2,141,097 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in C&J Energy Services by 434.1% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,532,290 shares of the company’s stock worth $86,782,000 after acquiring an additional 2,058,190 shares during the period. Finally, Citadel Advisors LLC grew its holdings in C&J Energy Services by 295.0% during the 2nd quarter. Citadel Advisors LLC now owns 1,789,008 shares of the company’s stock worth $61,309,000 after acquiring an additional 1,336,039 shares during the period. 96.43% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Ed Keppler sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $30.21, for a total value of $105,735.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alternative Asset Manage Solus sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $28.80, for a total transaction of $720,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,112,330 shares of company stock valued at $32,909,684.
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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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