There's a school of thought out there that the best companies really
show their stuff when their sectors come under serious pressure. While
that is true in many cases, it is also true that sometimes conditions
reach a point where the distinctions in company-to-company quality
become effectively moot.
I believe that is what has happened to C & J Energy Services (CJES),
as severe overcapacity in U.S. pressure pumping and expiring contracts
have effectively overwhelmed the quality of the company's equipment and
services. History suggests better days will come again, but the Street
appears to already be baking that in and investors may find better
bargains in other parts of the oil patch.
Follow this link to continue:
Tough Conditions Burying The Quality Edge At C & J Energy Services
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