Global Hunter Securities Starts C&J Energy Services (CJES) at Buy; No, We Don't Need To Be Institutionalized
Tweet Send to a FriendGet Alerts CJES Hot Sheet
Price: $19.30 -0.16%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade CJES Now!
Global Hunter Securities initiates coverage on C&J Energy Services (NYSE: CJES) with a Buy. PT $26.00.
Analyst, Jeff Spittel, said, "We believe that vertically integrated completions provider CJES is reasonably well positioned to weather tempestuous North American onshore market conditions in 2012-2013. Before you implore us to check into a methadone clinic, just hear us out for a moment. We all understand and acknowledge that leading-edge hydraulic fracturing pricing isn't headed higher anytime soon. Nevertheless, CJES has reasonably robust contract coverage for the remainder of 2012, which should enable the company to navigate challenges in the next few quarters. Scheduled contract expirations in 2013 are weighted toward H2, when pricing and margins should at least stabilize due to the forthcoming industry-wide evaporation of newbuild horsepower deliveries, consumables cost relief, and growing services intensity in the latest vintage of emerging unconventional oil plays."
Jokingly, Spittel, said, this isn't Halliburton (NYSE: HAL), but CJES also isn't a mom and pop shop either. "We believe that term commitments and recent contract renewals from large independent E&P customers such as Apache (NYSE: APA), Anadarko (NYSE: APC) and EOG Resources (NYSE: EOG), speak to the legitimacy of CJES' growing franchise, which is predicated on operational efficiency and service quality."
For an analyst ratings summary and ratings history on C&J Energy Services click here. For more ratings news on C&J Energy Services click here.
Shares of C&J Energy Services closed at $19.84 yesterday, with a 52 week range of $12.65-$28.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Jeff Spittel, said, "We believe that vertically integrated completions provider CJES is reasonably well positioned to weather tempestuous North American onshore market conditions in 2012-2013. Before you implore us to check into a methadone clinic, just hear us out for a moment. We all understand and acknowledge that leading-edge hydraulic fracturing pricing isn't headed higher anytime soon. Nevertheless, CJES has reasonably robust contract coverage for the remainder of 2012, which should enable the company to navigate challenges in the next few quarters. Scheduled contract expirations in 2013 are weighted toward H2, when pricing and margins should at least stabilize due to the forthcoming industry-wide evaporation of newbuild horsepower deliveries, consumables cost relief, and growing services intensity in the latest vintage of emerging unconventional oil plays."
Jokingly, Spittel, said, this isn't Halliburton (NYSE: HAL), but CJES also isn't a mom and pop shop either. "We believe that term commitments and recent contract renewals from large independent E&P customers such as Apache (NYSE: APA), Anadarko (NYSE: APC) and EOG Resources (NYSE: EOG), speak to the legitimacy of CJES' growing franchise, which is predicated on operational efficiency and service quality."
For an analyst ratings summary and ratings history on C&J Energy Services click here. For more ratings news on C&J Energy Services click here.
Shares of C&J Energy Services closed at $19.84 yesterday, with a 52 week range of $12.65-$28.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BTIG Starts ING U.S (VOYA) at Buy, Shares 'Significantly Undervalued'
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- Deutsche Bank Starts Taylor Morrison Home (TMHC) at Hold, Says 'Risks Downplayed'
Create E-mail Alert Related Categories
New Coverage
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
