C&J Energy Services (NYSE:CJ) Stock Rating Upgraded by Jefferies Financial Group

C&J Energy Services (NYSE:CJ) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $13.50 price target on the stock, down from their previous price target of $14.00. Jefferies Financial Group’s target price suggests a potential upside of 38.18% from the stock’s current price.

CJ has been the topic of a number of other research reports. Morgan Stanley set a $20.00 price target on C&J Energy Services and gave the stock a “hold” rating in a report on Monday, May 13th. ValuEngine upgraded C&J Energy Services from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James restated a “hold” rating and issued a $4.00 price target on shares of C&J Energy Services in a report on Wednesday, July 31st. Piper Jaffray Companies set a $21.00 price target on C&J Energy Services and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, Citigroup upgraded C&J Energy Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $20.00 in a report on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. C&J Energy Services has a consensus rating of “Hold” and an average price target of $12.92.

CJ opened at $9.77 on Tuesday. The stock has a market cap of $628.62 million, a P/E ratio of 12.06 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 1.92. The stock’s 50 day simple moving average is $10.35 and its 200 day simple moving average is $13.61. C&J Energy Services has a 1-year low of $8.69 and a 1-year high of $24.57.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.15). The firm had revenue of $501.08 million during the quarter, compared to analyst estimates of $535.43 million. C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The business’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Research analysts expect that C&J Energy Services will post -1 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CJ. Pzena Investment Management LLC lifted its stake in C&J Energy Services by 112.6% in the 1st quarter. Pzena Investment Management LLC now owns 2,492,932 shares of the company’s stock valued at $38,690,000 after buying an additional 1,320,597 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of C&J Energy Services by 148.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,757,200 shares of the company’s stock worth $20,700,000 after purchasing an additional 1,051,000 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of C&J Energy Services during the 2nd quarter worth $12,017,000. Dimensional Fund Advisors LP purchased a new position in shares of C&J Energy Services during the 4th quarter worth $9,679,000. Finally, Norges Bank purchased a new position in shares of C&J Energy Services during the 4th quarter worth $9,235,000.

C&J Energy Services Company Profile

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.

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