C&J Energy Services, Inc. (CJ) Major Shareholder Alternative Asset Manage Solus Sells 632,530 Shares

C&J Energy Services, Inc. (NYSE:CJ) major shareholder Alternative Asset Manage Solus sold 632,530 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $29.59, for a total value of $18,716,562.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Alternative Asset Manage Solus also recently made the following trade(s):

  • On Friday, November 17th, Alternative Asset Manage Solus sold 449,300 shares of C&J Energy Services stock. The shares were sold at an average price of $29.62, for a total value of $13,308,266.00.
  • On Tuesday, October 17th, Alternative Asset Manage Solus sold 25,000 shares of C&J Energy Services stock. The shares were sold at an average price of $28.80, for a total value of $720,000.00.
  • On Wednesday, September 20th, Alternative Asset Manage Solus sold 29,809 shares of C&J Energy Services stock. The stock was sold at an average price of $29.83, for a total value of $889,202.47.
  • On Thursday, September 21st, Alternative Asset Manage Solus sold 175,000 shares of C&J Energy Services stock. The stock was sold at an average price of $29.23, for a total value of $5,115,250.00.

C&J Energy Services, Inc. (NYSE:CJ) traded down $0.33 on Tuesday, hitting $29.19. The stock had a trading volume of 619,486 shares, compared to its average volume of 684,009. C&J Energy Services, Inc. has a 52 week low of $24.30 and a 52 week high of $46.30.

C&J Energy Services (NYSE:CJ) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.10. The business had revenue of $442.70 million during the quarter, compared to analyst estimates of $445.87 million. During the same period in the previous year, the business earned ($0.61) earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis. sell-side analysts anticipate that C&J Energy Services, Inc. will post -0.06 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in CJ. Vanguard Group Inc. bought a new position in C&J Energy Services during the 2nd quarter worth $155,777,000. BlackRock Inc. increased its stake in C&J Energy Services by 43,395.0% during the 2nd quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock worth $118,380,000 after acquiring an additional 3,446,431 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in C&J Energy Services by 31.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,331,707 shares of the company’s stock worth $99,851,000 after acquiring an additional 799,417 shares during the period. Wells Fargo & Company MN increased its stake in C&J Energy Services by 53.6% during the 3rd quarter. Wells Fargo & Company MN now owns 3,296,492 shares of the company’s stock worth $98,795,000 after acquiring an additional 1,150,327 shares during the period. Finally, Citadel Advisors LLC increased its stake in C&J Energy Services by 295.0% during the 2nd quarter. Citadel Advisors LLC now owns 1,789,008 shares of the company’s stock worth $61,309,000 after acquiring an additional 1,336,039 shares during the period.

CJ has been the subject of several recent analyst reports. Citigroup Inc. increased their price target on C&J Energy Services from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $39.00 price objective on shares of C&J Energy Services in a research report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of C&J Energy Services in a research report on Friday, October 6th. Guggenheim began coverage on C&J Energy Services in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 price objective for the company. Finally, Zacks Investment Research raised C&J Energy Services from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.25.

C&J Energy Services Company Profile

C&J Energy Services, Inc is a completion and production services company, which provides well construction, well completions and well services to the oil and gas industry. The Company operates through three segments: Completion Services, Well Support Services and Other Services. The Company also manufactures, repairs and refurbishes equipment used in the oilfield services industry.

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