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C&J Energy Services, Inc. (CJES)

  • Mon, Aug. 24, 3:59 PM
    • U.S. Silica (SLCA -15.4%) and C&J Energy (CJES -21.1%) stagger to 52-week lows amid huge losses on the day after shares of each were downgraded to Neutral from Buy at SunTrust, citing a 31% reduction in its U.S. onshore rig count forecast (I, II).
    • The firm downgraded several names in the oilfield services sector in addition to SLCA, including Seventy Seven Energy (SSE -14.8%) and RPC Inc. (RES -3.6%)
  • Wed, Apr. 15, 5:35 PM
  • Wed, Feb. 11, 5:36 PM
  • Mon, Feb. 9, 8:57 AM
    • C&J Energy Services (NYSE:CJES) +2.8% premarket on news the two companies have agreed to reduce the cash portion of its deal to buy Nabors Industries' (NYSE:NBR) production services unit by $250M to $688M.
    • Including stock, the deal was valued at $2.86B when it was announced in June.
    • A court had halted the deal in November, finding C&J’s board’s failure to seek out other buyers might have shortchanged its investors, but a higher court ruling in December allowed the transaction to proceed.
  • Dec. 19, 2014, 12:56 PM
    • The Delaware Supreme Court overturns a lower court ruling that had halted a deal by C&J Energy Services (CJES +0.7%) and Nabors Industries (NBR +6.1%), saying there was not enough evidence showing the C&J board had short-changed its shareholders.
    • A lower court last month held up C&J’s merger with a Nabors unit, finding C&J’s board did not adequately shop the company; the situation was unusual in part because C&J's board and management would keep control, while the new entity is to be incorporated in NBR’s home of Bermuda and 53% controlled by NBR.
    | 1 Comment
  • Nov. 28, 2014, 10:35 AM
    • Oil service companies mull OPEC's threat to the U.S. shale boom by its decision to hold production and the resulting tumble in oil prices.
    • C&J Energy (CJES -17.6%), RPC, Inc. (RES -14.5%), GreenHunter Resources (GRH -9.5%), Seventy Seven Energy (SSE -16.5%), Pioneer Energy (PES -13%).
    • Larger names: Halliburton (HAL -11.5%), Schlumberger (SLB -9.7%), Superior Energy (SPN -15%), Baker Hughes (BHI -9.1%).
  • Nov. 26, 2014, 5:37 PM
    • Top gainers, as of 5:15 p.m.: NXPI +2.6%. TEX +2.2%. CJES +2.2%. NAT +2.0%. PSLV +1.7%.
    • Top losers, as of 5:15 p.m.: VMEM -4.3%. ATW -3.2%. EJ -2.8%. CPB -2.4%. KITE -2.2%.
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  • Nov. 25, 2014, 10:13 AM
    • C&J Energy Services (CJES +3.6%) says it plans to appeal a Delaware court ruling that requires it to solicit offers from other buyers for 30 days before it can merge with a unit of Nabors Industries (NBR -0.5%).
    • NBR announced in June that it would merge its completion and production business with CJES and receive $2.86B in cash and stock; the deal is structured as a Reverse Morris Trust, a transaction that allows a parent company to sell its unit in a tax-efficient manner.
    • But CJES shares are higher, as investor appetite for the deal had been waning given the integration risk and less favorable industry outlook.
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  • Oct. 29, 2014, 5:44 PM
    • Top gainers, as of 5:15 p.m.: LAKE +20.9%. CJES +10.7%. APT +9.0%. LOPE +8.8%. FORM +8.2%.
    • Top losers, as of 5:15 p.m.: AFOP -15.6%. GLUU -15.0%. PRXL -12.4%. TRLA -7.9%. Z -5.2%.
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  • Oct. 29, 2014, 4:52 PM
    • C&J Energy (NYSE:CJES): Q3 EPS of $0.47 beats by $0.13.
    • Revenue of $440M (+68.0% Y/Y) beats by $26.3M.
    • Shares +16.5%.
    • Press Release
    | 1 Comment
  • Jun. 26, 2014, 9:17 AM
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  • Jun. 25, 2014, 5:57 PM
    • C&J Energy (CJES) +8% AH and Nabors Industries (NBR) +6.2% after the companies agree to merge, creating a diversified completion and production services provider.
    • NBR will receive total consideration of $2.86B in cash and stock, comprised of ~62.5M CJES shares and $940M in cash; the combined company will retain the C&J Energy name and management team.
    • CJES expects the deal to be accretive to EPS during the first full year of combined operations, as it will leverage identifiable cost and revenue synergies through the achievement of operational efficiencies and capex savings.
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  • May 5, 2014, 11:18 AM
    • C&J Energy (CJES +2.3%) is upgraded to Buy from Neutral with a $35 price target, up from $22, at Global Hunter based on the company's leverage to an acceleration in North American onshore unconventional development.
    • Global Hunter see CJES as well positioned after it decided two quarters ago to ramp its capacity ahead of a potential North American upturn; the company has recently built high-quality fleets it can package in multi-service operator arrangements and is able to add capacity rapidly in-house at a ~20% discount to market prices.
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  • May 6, 2013, 11:58 AM
    C&J Energy (CJES -2.7%) is downgraded to Neutral from Buy with a $22 price target (from $28) at Goldman Sachs, which cites increased E&P focus on cost controls resulting in more commodity-type pressure pumping jobs than those suited to CJES' competitive strengths, resulting in lower than forecast equipment utilization.
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  • Feb. 13, 2013, 4:32 PM
    C&J Energy (CJES): Q4 EPS of $0.65 misses by $0.03. Revenue of $286.3M (+30% Y/Y) beats by $6.73M. Shares -1.8% AH. (PR)
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  • Nov. 20, 2012, 8:32 AM
    C&J Energy Services (CJES) -3.8% premarket after announcing the sale of ~3.3M shares of common stock by a single stockholder. CJES will not receive any proceeds from the sale.
    | 1 Comment
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Company Description
C&J Energy Services Ltdis a completion and production services company for oil & gas industry. The Company is engaged in providing well construction, well completions and well services to the oil and gas industry.