Premier Fund Managers Ltd Invests $3 Million in C&J Energy Services Inc (CJ)

Premier Fund Managers Ltd purchased a new stake in shares of C&J Energy Services Inc (NYSE:CJ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 126,339 shares of the company’s stock, valued at approximately $3,002,000. Premier Fund Managers Ltd owned 0.18% of C&J Energy Services as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of C&J Energy Services by 81.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,876 shares of the company’s stock worth $152,000 after purchasing an additional 2,630 shares during the last quarter. Koch Industries Inc. bought a new position in shares of C&J Energy Services in the first quarter worth approximately $205,000. Principal Financial Group Inc. bought a new position in shares of C&J Energy Services in the first quarter worth approximately $215,000. Amalgamated Bank bought a new position in shares of C&J Energy Services in the second quarter worth approximately $222,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of C&J Energy Services in the second quarter worth approximately $234,000. Hedge funds and other institutional investors own 99.75% of the company’s stock.

Several analysts have issued reports on CJ shares. BMO Capital Markets set a $30.00 target price on C&J Energy Services and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Zacks Investment Research lowered C&J Energy Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 4th. Seaport Global Securities started coverage on C&J Energy Services in a research note on Friday, May 25th. They issued a “buy” rating and a $50.00 target price for the company. Morgan Stanley lowered C&J Energy Services from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research note on Thursday, July 12th. Finally, Guggenheim lowered C&J Energy Services from a “buy” rating to a “neutral” rating in a research note on Friday, July 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $37.42.

In other news, insider Tim Wallace sold 1,500 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $25.15, for a total transaction of $37,725.00. Following the completion of the sale, the insider now owns 23,360 shares of the company’s stock, valued at $587,504. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Shares of CJ opened at $23.97 on Monday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -170.00 and a beta of 0.91. C&J Energy Services Inc has a 1 year low of $21.22 and a 1 year high of $36.57.

C&J Energy Services (NYSE:CJ) last issued its earnings results on Thursday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The firm had revenue of $610.52 million during the quarter, compared to analysts’ expectations of $598.66 million. C&J Energy Services had a return on equity of 7.52% and a net margin of 5.56%. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) EPS. equities analysts expect that C&J Energy Services Inc will post 1.39 EPS for the current year.

About C&J Energy Services

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

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