The Manufacturers Life Insurance Company Acquires New Stake in C&J Energy Services, Inc. (CJ)

The Manufacturers Life Insurance Company acquired a new position in C&J Energy Services, Inc. (NYSE:CJ) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,782 shares of the company’s stock, valued at approximately $1,191,000. The Manufacturers Life Insurance Company owned 0.05% of C&J Energy Services as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. acquired a new position in shares of C&J Energy Services during the 2nd quarter worth about $155,777,000. BlackRock Inc. raised its position in shares of 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 purchasing an additional 3,446,431 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of 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 purchasing an additional 2,058,190 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of 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 purchasing an additional 2,141,097 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in shares of 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 purchasing an additional 1,336,039 shares during the last quarter.

Shares of C&J Energy Services, Inc. (CJ) opened at $30.35 on Friday. C&J Energy Services, Inc. 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 data on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.10. The business had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $445.87 million. During the same period in the prior year, the company posted ($0.61) EPS. The firm’s revenue was up 13.5% on a year-over-year basis. sell-side analysts expect that C&J Energy Services, Inc. will post -0.24 earnings per share for the current year.

Several research firms recently weighed in on CJ. Deutsche Bank AG restated 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. Zacks Investment Research downgraded shares of C&J Energy Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Jefferies Group LLC restated 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. Citigroup Inc. restated a “buy” rating and set a $36.00 price target (down previously from $39.00) on shares of C&J Energy Services in a research report on Friday, August 11th. Finally, Scotiabank restated a “hold” rating on shares of C&J Energy Services in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.25.

In related news, major shareholder Alternative Asset Manage Solus sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.80, for a total transaction of $720,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 229,809 shares of company stock valued at $6,724,452.

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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.

Institutional Ownership by Quarter for C&J Energy Services (NYSE:CJ)

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