Citigroup May Have Gained Confidence in C&J Energy Services (NYSE:CJES), Upgrades Stock


C&J Energy Services (NYSE:CJES) Stock Upgrade

In an analyst note issued to investors and clients on Friday, 11 December, equity analysts at the research division of Citigroup upgraded their rating for shares of C&J Energy Services (NYSE:CJES) from a “Neutral” to a solid “Buy”. They now have a $8.00 Estimated Target Price on CJES or a 60.32% upside from the current share price.

From a total of 15 analysts covering C&J Energy Services (NYSE:CJES) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 11 a ”Hold”. This means that 45% of the ratings are positive. The highest target price is $14.5 while the lowest target price is $4. The mean of all analyst targets is $7.02 with a 14.41% above today’s ($4.79) stock price. C&J Energy Services was the topic of 23 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on November 30 to “Buy” rating. Citigroup maintained CJES stock in a recent report from October 5 with “Neutral” rating. Finally, SunTrust downgraded the stock to “Neutral” rating in a report issued on an August 24.

Approximately 1.61M shares of stock traded hands. C&J Energy Services, Ltd. (NYSE:CJES) has declined 69.19% since May 8, 2015 and is downtrending. It has underperformed by 66.17% the S&P500.

The overall sentiment of institutions has decreased to 0 in Q2 2015. Its down 0.10, from 0.1 in 2015Q2. The ratio dropped, as 2 institutions have sold all the shares of C&J Energy Services, Ltd. that they owned while 1 funds have taken shares off the table. 0 funds have purchased shares for the first time while 0 added to their positions. These institutions now hold 6.41 million shares or 0.01% less than the 6.41 million shares they owned in 2015Q2.

The Fund General Atlantic Llc currently is holding shares equating to 1.16% of its total portfolio in C&J Energy Services, Ltd. representing a total of 6.32 million shares. Another fund,Diversified Investment Strategies Llc, is holding a total of 14,350 shares equating to 0.06% of their holdings. Additionally, Benedict Financial Advisors Inc has a 11,780 share stake in C&J Energy Services, Ltd. which represents 0.03% of their total portfolio. The Fund, Municipal Employees' Retirement System Of Michigan, based out of Michigan, has also built up a stake in the stock, which represents a total of 0.03% of their total portfolio. Finally King Luther Capital Management Corp, a fund which is based in the state of Texas reported a total holdings of 54,300 shares.

According to Zacks Investment Research, “C&J Energy Services, Inc. is a provider of hydraulic fracturing and coiled tubing services with a focus on complex, technically demanding well completions. The Company operates in Texas, Louisiana and Oklahoma. It primarily serves large exploration and production companies with unconventional resource positions, including EOG Resources, EXCO Resources, Anadarko Petroleum, Plains Exploration, Penn Virginia, Petrohawk, El Paso, Apache and Chesapeake. C&J Energy Services, Inc. is headquartered in Houston, Texas.” Get a free copy of the Zacks research report on C&J Energy Services, Ltd. (CJES).