C&J Energy Services, Inc. (NYSE:CJ) Sees Large Growth in Short Interest

C&J Energy Services, Inc. (NYSE:CJ) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 2,990,018 shares, an increase of 303.2% from the June 15th total of 741,488 shares. Based on an average daily volume of 1,897,320 shares, the short-interest ratio is currently 1.6 days. Approximately 4.8% of the company’s stock are short sold.

A number of equities analysts have issued reports on the company. Citigroup Inc. reaffirmed a “buy” rating and issued a $36.00 target price (down from $39.00) on shares of C&J Energy Services in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $38.00 target price (down from $43.00) on shares of C&J Energy Services in a research report on Thursday. Zacks Investment Research raised C&J Energy Services from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 target price (down from $44.00) on shares of C&J Energy Services in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.45.

A number of institutional investors have recently made changes to their positions in CJ. Vanguard Group Inc. acquired a new position in shares of C&J Energy Services during the second quarter valued at $155,777,000. BlackRock Inc. boosted its position in shares of C&J Energy Services by 43,395.0% in the second quarter. BlackRock Inc. now owns 3,454,373 shares of the company’s stock valued at $118,380,000 after buying an additional 3,446,431 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of C&J Energy Services by 42,247.4% in the second quarter. Wells Fargo & Company MN now owns 2,146,165 shares of the company’s stock valued at $73,549,000 after buying an additional 2,141,097 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of C&J Energy Services by 434.1% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 2,532,290 shares of the company’s stock valued at $86,782,000 after buying an additional 2,058,190 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of C&J Energy Services by 295.0% in the second quarter. Citadel Advisors LLC now owns 1,789,008 shares of the company’s stock valued at $61,309,000 after buying an additional 1,336,039 shares during the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of C&J Energy Services (CJ) traded down 0.52% on Friday, reaching $26.88. The company had a trading volume of 675,792 shares. The firm’s market capitalization is $1.70 billion. C&J Energy Services has a 12 month low of $20.26 and a 12 month high of $36.78. The company’s 50-day moving average is $31.56 and its 200 day moving average is $32.08.

About C&J Energy Services

Seaside Exploration Partners Corp is a Canada-based capital pool company. The Company focuses on the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction. The Qualifying Transaction may involve the acquisition of a business or assets located outside of Canada.