Select Energy Services (NYSE:WTTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Select Energy Services, Inc. is a provider of water solutions to the U.S. unconventional oil and gas industry. It offers drilling and completion activities associated with hydraulic fracturing as well as complementary water-related services which support oil and gas well completion and production activities including containment, monitoring, treatment, flowback, hauling and disposal. Select Energy Services, Inc. is headquartered in Gainesville, Texas. “
A number of other equities analysts have also weighed in on the stock. Johnson Rice started coverage on shares of Select Energy Services in a report on Friday, October 5th. They issued an “accumulate” rating and a $16.00 price target on the stock. ValuEngine lowered shares of Select Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. JPMorgan Chase & Co. decreased their price target on shares of Select Energy Services from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. Citigroup decreased their price target on shares of Select Energy Services from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Friday, September 14th. Finally, B. Riley set a $22.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Sunday, October 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Select Energy Services presently has an average rating of “Buy” and an average target price of $18.00.
Shares of WTTR traded down $0.29 during mid-day trading on Friday, reaching $9.84. The company had a trading volume of 370,768 shares, compared to its average volume of 613,086. The firm has a market cap of $1.04 billion, a PE ratio of 12.30 and a beta of 2.21. Select Energy Services has a fifty-two week low of $9.11 and a fifty-two week high of $21.96. The company has a quick ratio of 2.27, a current ratio of 2.51 and a debt-to-equity ratio of 0.07.
Select Energy Services (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $396.97 million for the quarter, compared to analyst estimates of $406.52 million. Select Energy Services had a net margin of 2.80% and a return on equity of 4.95%. Select Energy Services’s revenue for the quarter was up 158.0% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. As a group, equities research analysts anticipate that Select Energy Services will post 0.88 earnings per share for the current year.
Several large investors have recently bought and sold shares of WTTR. Principal Financial Group Inc. lifted its holdings in shares of Select Energy Services by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 454,319 shares of the company’s stock valued at $5,734,000 after acquiring an additional 4,423 shares in the last quarter. Perella Weinberg Partners Capital Management LP lifted its holdings in shares of Select Energy Services by 13.1% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 657,469 shares of the company’s stock valued at $9,553,000 after acquiring an additional 76,129 shares in the last quarter. K.J. Harrison & Partners Inc lifted its holdings in shares of Select Energy Services by 438.7% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 167,000 shares of the company’s stock valued at $2,426,000 after acquiring an additional 136,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Select Energy Services during the 2nd quarter valued at $756,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in shares of Select Energy Services during the 2nd quarter valued at $392,000. Institutional investors and hedge funds own 52.62% of the company’s stock.
Select Energy Services Company Profile
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary hose; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.
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