Parallel Advisors LLC Takes Position in C&J Energy Services Inc (NYSE:CJ)

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Parallel Advisors LLC purchased a new stake in shares of C&J Energy Services Inc (NYSE:CJ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,937 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new stake in C&J Energy Services during the fourth quarter valued at about $9,679,000. Norges Bank bought a new position in C&J Energy Services during the fourth quarter worth about $9,235,000. Strs Ohio boosted its position in C&J Energy Services by 6,287.5% during the first quarter. Strs Ohio now owns 51,100 shares of the company’s stock worth $793,000 after purchasing an additional 50,300 shares during the period. BNP Paribas Arbitrage SA boosted its position in C&J Energy Services by 1,033.2% during the first quarter. BNP Paribas Arbitrage SA now owns 43,379 shares of the company’s stock worth $673,000 after purchasing an additional 39,551 shares during the period. Finally, Arizona State Retirement System boosted its position in C&J Energy Services by 48.2% during the first quarter. Arizona State Retirement System now owns 94,776 shares of the company’s stock worth $1,471,000 after purchasing an additional 30,803 shares during the period.

NYSE CJ traded up $0.19 during trading hours on Wednesday, hitting $8.91. 8,938 shares of the company were exchanged, compared to its average volume of 892,472. C&J Energy Services Inc has a 52-week low of $8.69 and a 52-week high of $24.07. The firm has a market cap of $589.66 million, a price-to-earnings ratio of 10.65 and a beta of 1.37. The company has a quick ratio of 1.92, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $10.05 and a two-hundred day moving average of $13.38.

C&J Energy Services (NYSE:CJ) last issued its earnings results on Tuesday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.15). The business had revenue of $501.08 million for the quarter, compared to analysts’ expectations of $535.43 million. C&J Energy Services had a negative return on equity of 3.35% and a negative net margin of 15.12%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. On average, equities research analysts predict that C&J Energy Services Inc will post -1.01 EPS for the current year.

A number of equities analysts have weighed in on CJ shares. Piper Jaffray Companies set a $21.00 target price on shares of C&J Energy Services and gave the stock a “buy” rating in a research report on Monday, May 20th. ValuEngine upgraded shares of C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of C&J Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday. Bank of America dropped their target price on shares of C&J Energy Services from $18.00 to $13.50 and set a “buy” rating for the company in a research report on Wednesday. Finally, Citigroup upgraded shares of C&J Energy Services from a “neutral” rating to a “buy” rating and lifted their target price for the company from $19.00 to $20.00 in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $12.38.

About C&J Energy Services

C&J Energy Services, Inc provides well construction, well completion, well support, and other complementary oilfield services and technologies to oil and gas exploration and production companies throughout the continental United States. It operates through Completion Services and Well Support Services segments.

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

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