C&J Energy Services (NYSE:CJ) Stock Rating Upgraded by Wells Fargo & Co

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Wells Fargo & Co upgraded shares of C&J Energy Services (NYSE:CJ) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports.

Several other research analysts also recently commented on the company. Raymond James restated a hold rating and issued a $4.00 target price on shares of C&J Energy Services in a research note on Wednesday, July 31st. Jefferies Financial Group upgraded C&J Energy Services from a hold rating to a buy rating and cut their target price for the stock from $14.00 to $13.50 in a research note on Tuesday, August 20th. Scotiabank set a $9.00 target price on C&J Energy Services and gave the stock a buy rating in a research note on Monday, August 26th. Zacks Investment Research downgraded C&J Energy Services from a hold rating to a sell rating in a research note on Tuesday, August 27th. Finally, Bank of America cut their target price on C&J Energy Services from $18.00 to $13.50 and set a buy rating for the company in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. C&J Energy Services presently has an average rating of Hold and a consensus target price of $12.12.

Shares of NYSE CJ opened at $11.06 on Thursday. C&J Energy Services has a 52 week low of $8.55 and a 52 week high of $23.23. The business has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $12.82. The company has a quick ratio of 1.92, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $714.40 million, a P/E ratio of 13.65 and a beta of 1.41.

C&J Energy Services (NYSE:CJ) last issued its earnings results on Tuesday, August 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.15). C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The company had revenue of $501.08 million during the quarter, compared to the consensus estimate of $535.43 million. During the same quarter in the prior year, the business earned $0.52 EPS. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts anticipate that C&J Energy Services will post -0.93 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of C&J Energy Services by 1.2% during the second quarter. BlackRock Inc. now owns 9,368,384 shares of the company’s stock valued at $110,359,000 after buying an additional 112,448 shares during the period. Pzena Investment Management LLC increased its stake in shares of C&J Energy Services by 20.4% during the second quarter. Pzena Investment Management LLC now owns 3,001,122 shares of the company’s stock valued at $35,353,000 after buying an additional 508,190 shares during the period. Renaissance Technologies LLC increased its stake in shares of C&J Energy Services by 148.8% during the second quarter. Renaissance Technologies LLC now owns 1,757,200 shares of the company’s stock valued at $20,700,000 after buying an additional 1,051,000 shares during the period. Van ECK Associates Corp increased its stake in shares of C&J Energy Services by 78.9% during the second quarter. Van ECK Associates Corp now owns 1,141,153 shares of the company’s stock valued at $13,443,000 after buying an additional 503,242 shares during the period. Finally, Invesco Ltd. increased its stake in shares of C&J Energy Services by 9.8% during the second quarter. Invesco Ltd. now owns 1,129,938 shares of the company’s stock valued at $13,311,000 after buying an additional 100,908 shares during the period.

About C&J Energy Services

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

Further Reading: Return on Investment (ROI)

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

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