C&J Energy Services (CJ) Stock Price Down 9.2%

C&J Energy Services Inc (NYSE:CJ) traded down 9.2% during mid-day trading on Tuesday . The stock traded as low as $15.78 and last traded at $15.83. 1,117,470 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 1,004,812 shares. The stock had previously closed at $17.44.

Several equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $20.00 target price (down from $28.00) on shares of C&J Energy Services in a report on Monday. ValuEngine cut C&J Energy Services from a “sell” rating to a “strong sell” rating in a report on Saturday. Canaccord Genuity reaffirmed a “buy” rating and issued a $4.25 target price on shares of C&J Energy Services in a report on Thursday, November 29th. Citigroup set a $22.00 target price on C&J Energy Services and gave the stock a “hold” rating in a report on Monday, November 12th. Finally, Piper Jaffray Companies set a $29.00 target price on C&J Energy Services and gave the stock a “buy” rating in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.88.

The stock has a market capitalization of $1.16 billion, a P/E ratio of -113.07 and a beta of 0.73.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $567.92 million during the quarter, compared to analyst estimates of $586.66 million. C&J Energy Services had a return on equity of 7.19% and a net margin of 5.24%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities analysts predict that C&J Energy Services Inc will post 0.81 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of C&J Energy Services by 1.4% during the third quarter. Vanguard Group Inc. now owns 6,278,758 shares of the company’s stock valued at $130,598,000 after buying an additional 83,861 shares during the period. Morgan Stanley boosted its position in shares of C&J Energy Services by 9.1% during the third quarter. Morgan Stanley now owns 476,248 shares of the company’s stock valued at $9,906,000 after buying an additional 39,606 shares during the period. Legal & General Group Plc boosted its position in shares of C&J Energy Services by 7.1% during the third quarter. Legal & General Group Plc now owns 147,975 shares of the company’s stock valued at $3,090,000 after buying an additional 9,770 shares during the period. IndexIQ Advisors LLC boosted its position in shares of C&J Energy Services by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 88,042 shares of the company’s stock valued at $1,831,000 after buying an additional 3,326 shares during the period. Finally, Mutual Advisors LLC purchased a new position in shares of C&J Energy Services during the third quarter valued at approximately $761,000.

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C&J Energy Services Company Profile (NYSE:CJ)

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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