Arizona State Retirement System decreased its holdings in C&J Energy Services Inc (NYSE:CJ) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,796 shares of the company’s stock after selling 6,806 shares during the quarter. Arizona State Retirement System owned 0.13% of C&J Energy Services worth $8,401,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Neuburgh Advisers LLC bought a new position in C&J Energy Services in the 2nd quarter valued at about $176,000. NumerixS Investment Technologies Inc bought a new position in C&J Energy Services in the 2nd quarter valued at about $191,000. Riverhead Capital Management LLC bought a new position in C&J Energy Services in the 2nd quarter valued at about $194,000. Principal Financial Group Inc. bought a new position in C&J Energy Services in the 1st quarter valued at about $215,000. Finally, Fox Run Management L.L.C. bought a new position in C&J Energy Services in the 3rd quarter valued at about $215,000. 99.75% of the stock is currently owned by institutional investors and hedge funds.
C&J Energy Services stock opened at $20.51 on Friday. C&J Energy Services Inc has a 52 week low of $16.82 and a 52 week high of $36.57. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.21 and a beta of 0.78.
C&J Energy Services (NYSE:CJ) last posted its 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. C&J Energy Services had a net margin of 5.24% and a return on equity of 7.19%. The firm had revenue of $567.92 million for the quarter, compared to analysts’ expectations of $586.66 million. During the same quarter last year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, sell-side analysts forecast that C&J Energy Services Inc will post 1.07 earnings per share for the current year.
CJ has been the topic of several recent research reports. Zacks Investment Research raised shares of C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Wells Fargo & Co reaffirmed a “hold” rating on shares of C&J Energy Services in a research report on Thursday, September 6th. Johnson Rice initiated coverage on shares of C&J Energy Services in a research report on Monday, September 17th. They issued an “accumulate” rating and a $26.00 price target on the stock. BMO Capital Markets dropped their price target on shares of C&J Energy Services from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, August 30th. Finally, Bank of America raised their price target on shares of C&J Energy Services from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $34.15.
C&J Energy Services Company Profile
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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