Pzena Investment Management LLC Invests $15.83 Million in C&J Energy Services Inc (CJ)

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Pzena Investment Management LLC bought a new position in shares of C&J Energy Services Inc (NYSE:CJ) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,172,335 shares of the company’s stock, valued at approximately $15,827,000. Pzena Investment Management LLC owned about 1.74% of C&J Energy Services as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CJ. Towle & Co. bought a new stake in shares of C&J Energy Services during the third quarter worth $23,996,000. Alliancebernstein L.P. grew its stake in shares of C&J Energy Services by 149.2% in the third quarter. Alliancebernstein L.P. now owns 1,045,048 shares of the company’s stock worth $21,737,000 after purchasing an additional 625,678 shares during the last quarter. Key Group Holdings Cayman LTD. grew its stake in shares of C&J Energy Services by 46.8% in the third quarter. Key Group Holdings Cayman LTD. now owns 1,673,816 shares of the company’s stock worth $34,815,000 after purchasing an additional 533,721 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of C&J Energy Services by 184.5% in the second quarter. Bank of New York Mellon Corp now owns 772,037 shares of the company’s stock worth $18,220,000 after purchasing an additional 500,647 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in shares of C&J Energy Services by 53.8% in the third quarter. BlueMountain Capital Management LLC now owns 1,132,519 shares of the company’s stock worth $23,556,000 after purchasing an additional 396,110 shares during the last quarter.

In related news, insider Donald Jeffrey Gawick acquired 7,030 shares of the company’s stock in a transaction dated Friday, December 14th. The shares were purchased at an average price of $14.60 per share, for a total transaction of $102,638.00. Following the completion of the acquisition, the insider now owns 185,643 shares of the company’s stock, valued at $2,710,387.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.05% of the stock is owned by insiders.

Several analysts recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $20.00 price objective (down previously from $28.00) on shares of C&J Energy Services in a research note on Monday, December 3rd. Zacks Investment Research raised shares of C&J Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Jefferies Financial Group set a $18.00 price objective on shares of C&J Energy Services and gave the stock a “hold” rating in a research note on Friday. Cleveland Research cut shares of C&J Energy Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 30th. Finally, Credit Suisse Group lowered shares of C&J Energy Services from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $16.00 in a report on Wednesday, December 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. C&J Energy Services currently has an average rating of “Hold” and a consensus price target of $22.42.

CJ stock opened at $17.54 on Tuesday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 21.65 and a beta of 1.52. C&J Energy Services Inc has a 12-month low of $12.35 and a 12-month high of $32.08.

C&J Energy Services (NYSE:CJ) last released its earnings results on Thursday, February 21st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.01. The business had revenue of $490.60 million for the quarter, compared to analyst estimates of $489.07 million. C&J Energy Services had a negative net margin of 5.85% and a positive return on equity of 4.14%. C&J Energy Services’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities analysts expect that C&J Energy Services Inc will post -0.75 EPS for the current year.

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C&J Energy Services 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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Institutional Ownership by Quarter for C&J Energy Services (NYSE:CJ)

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