Bank of America Increases C&J Energy Services (NYSE:CJ) Price Target to $28.00

C&J Energy Services (NYSE:CJ) had its target price hoisted by stock analysts at Bank of America from $27.00 to $28.00 in a research report issued to clients and investors on Friday, November 2nd. The brokerage currently has a “buy” rating on the stock. Bank of America’s price objective suggests a potential upside of 40.14% from the stock’s previous close.

CJ has been the topic of several other reports. Johnson Rice began coverage on C&J Energy Services in a research note on Monday, September 17th. They issued an “accumulate” rating and a $26.00 price objective on the stock. BMO Capital Markets reduced their price objective on C&J Energy Services from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 30th. Piper Jaffray Companies set a $34.00 price objective on C&J Energy Services and gave the company a “buy” rating in a research note on Wednesday, August 15th. Credit Suisse Group increased their price objective on C&J Energy Services from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Finally, Jefferies Financial Group set a $25.00 price objective on C&J Energy Services and gave the company a “buy” rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. C&J Energy Services presently has an average rating of “Hold” and a consensus target price of $33.69.

Shares of CJ traded down $0.10 during midday trading on Friday, hitting $19.98. 548,428 shares of the stock were exchanged, compared to its average volume of 920,717. C&J Energy Services has a 52-week low of $16.82 and a 52-week high of $36.57. The firm has a market cap of $1.38 billion, a P/E ratio of -142.71, a P/E/G ratio of 0.25 and a beta of 0.78.

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 consensus estimate of $0.15 by $0.01. C&J Energy Services had a return on equity of 7.19% and a net margin of 5.24%. The business had revenue of $567.92 million during the quarter, compared to analyst estimates of $586.66 million. During the same period last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Research analysts expect that C&J Energy Services will post 0.92 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Neuburgh Advisers LLC purchased a new position in shares of C&J Energy Services during the second quarter worth about $176,000. NumerixS Investment Technologies Inc purchased a new position in shares of C&J Energy Services during the second quarter worth about $191,000. Riverhead Capital Management LLC purchased a new position in shares of C&J Energy Services during the second quarter worth about $194,000. Principal Financial Group Inc. purchased a new position in shares of C&J Energy Services during the first quarter worth about $215,000. Finally, Amalgamated Bank purchased a new position in shares of C&J Energy Services during the second quarter worth about $222,000. Institutional investors own 99.75% of the company’s stock.

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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Analyst Recommendations for C&J Energy Services (NYSE:CJ)

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