C&J Energy Services, Inc. (CJ) Downgraded to Sell at Zacks Investment Research

C&J Energy Services, Inc. (NYSE:CJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “C&J Energy Services, Inc. is a provider of on-shore well construction, well completion, well support and other complementary oilfield services to oil and gas exploration and production companies. It offers hydraulic fracturing, cased-hole wireline, coiled tubing, cementing, rig services, fluids management services and other special well site services. The company operates primarily in United States and Western Canada. C&J Energy Services, Inc. is based in Houston, United States. “

A number of other brokerages have also recently issued reports on CJ. Jefferies Group LLC assumed coverage on shares of C&J Energy Services in a research report on Thursday, July 13th. They set a “buy” rating and a $43.00 target price for the company. Scotiabank restated a “hold” rating on shares of C&J Energy Services in a research report on Tuesday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $39.00 target price on shares of C&J Energy Services in a research report on Tuesday, October 10th. Guggenheim assumed coverage on shares of C&J Energy Services in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 target price for the company. Finally, Citigroup Inc. restated a “buy” rating and set a $36.00 target price (down previously from $39.00) on shares of C&J Energy Services in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. C&J Energy Services presently has an average rating of “Buy” and an average target price of $39.25.

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In other news, major shareholder Alternative Asset Manage Solus sold 29,809 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $29.83, for a total value of $889,202.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 229,809 shares of company stock valued at $6,724,452.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new stake in C&J Energy Services in the second quarter valued at approximately $155,777,000. BlackRock Inc. grew its holdings in C&J Energy Services by 43,395.0% in the second quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock valued at $118,380,000 after purchasing an additional 3,446,431 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in C&J Energy Services by 434.1% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 2,532,290 shares of the company’s stock valued at $86,782,000 after purchasing an additional 2,058,190 shares during the period. Wells Fargo & Company MN grew its holdings in C&J Energy Services by 42,247.4% in the second quarter. Wells Fargo & Company MN now owns 2,146,165 shares of the company’s stock valued at $73,549,000 after purchasing an additional 2,141,097 shares during the period. Finally, Citadel Advisors LLC grew its holdings in C&J Energy Services by 295.0% in the second quarter. Citadel Advisors LLC now owns 1,789,008 shares of the company’s stock valued at $61,309,000 after purchasing an additional 1,336,039 shares during the period.

About C&J Energy Services

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.

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