Fisher Asset Management LLC grew its position in shares of C&J Energy Services Inc (NYSE:CJ) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 465,290 shares of the company’s stock after acquiring an additional 84,301 shares during the quarter. Fisher Asset Management LLC owned 0.68% of C&J Energy Services worth $9,678,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CJ. Neuburgh Advisers LLC bought a new position in C&J Energy Services during the 2nd quarter worth $176,000. NumerixS Investment Technologies Inc bought a new position in shares of C&J Energy Services in the second quarter worth $191,000. Riverhead Capital Management LLC bought a new position in shares of C&J Energy Services in the second quarter worth $194,000. Principal Financial Group Inc. bought a new position in shares of C&J Energy Services in the first quarter worth $215,000. Finally, Amalgamated Bank bought a new position in shares of C&J Energy Services in the second quarter worth $222,000. 99.75% of the stock is owned by institutional investors.
CJ stock opened at $20.07 on Tuesday. C&J Energy Services Inc has a 1-year low of $16.82 and a 1-year high of $36.57. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -143.36, a price-to-earnings-growth ratio of 0.21 and a beta of 0.78.
C&J Energy Services (NYSE:CJ) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $567.92 million for the quarter, compared to analysts’ expectations of $586.66 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts expect that C&J Energy Services Inc will post 1.07 EPS for the current year.
A number of brokerages recently commented on CJ. Citigroup raised their price target on C&J Energy Services from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. ValuEngine raised C&J Energy Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. BMO Capital Markets set a $30.00 price objective on C&J Energy Services and gave the company a “buy” rating in a research note on Wednesday, July 11th. Morgan Stanley lowered C&J Energy Services from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research note on Thursday, July 12th. Finally, Piper Jaffray Companies set a $34.00 price target on C&J Energy Services and gave the company a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.08.
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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