Seaport Global Securities assumed coverage on shares of Select Energy Services (NYSE:WTTR) in a note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
A number of other equities analysts also recently commented on the company. Stephens assumed coverage on Select Energy Services in a research report on Thursday, April 12th. They set an “overweight” rating and a $16.00 price objective on the stock. Piper Jaffray reiterated a “buy” rating and set a $18.00 price objective on shares of Select Energy Services in a research report on Thursday, March 15th. Zacks Investment Research downgraded Select Energy Services from a “buy” rating to a “sell” rating in a research report on Wednesday, March 14th. B. Riley set a $24.00 target price on Select Energy Services and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, Citigroup raised Select Energy Services from a “sell” rating to a “neutral” rating and set a $17.00 target price for the company in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.80.
Select Energy Services stock traded up $0.24 during trading on Thursday, reaching $15.43. 289,315 shares of the company were exchanged, compared to its average volume of 431,727. Select Energy Services has a 52-week low of $11.22 and a 52-week high of $21.96. The company has a market cap of $1,538.69 and a price-to-earnings ratio of 19.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.17 and a current ratio of 2.41.
Select Energy Services (NYSE:WTTR) last announced its quarterly earnings data on Wednesday, March 7th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Select Energy Services had a positive return on equity of 0.96% and a negative net margin of 2.31%. The company had revenue of $304.24 million for the quarter, compared to analysts’ expectations of $294.60 million. analysts predict that Select Energy Services will post 0.85 EPS for the current fiscal year.
In other news, CEO Holli C. Ladhani acquired 29,388 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was acquired at an average cost of $13.87 per share, with a total value of $407,611.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Alan Burnett acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average cost of $14.14 per share, with a total value of $35,350.00. The disclosure for this purchase can be found here. 8.29% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of WTTR. Northern Trust Corp acquired a new stake in shares of Select Energy Services in the second quarter valued at $748,000. State Street Corp purchased a new position in Select Energy Services in the second quarter valued at $348,000. Wells Fargo & Company MN boosted its holdings in Select Energy Services by 555.8% in the third quarter. Wells Fargo & Company MN now owns 39,823 shares of the company’s stock valued at $633,000 after purchasing an additional 33,751 shares during the period. California State Teachers Retirement System boosted its holdings in Select Energy Services by 117.4% in the third quarter. California State Teachers Retirement System now owns 15,000 shares of the company’s stock valued at $239,000 after purchasing an additional 8,100 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Select Energy Services in the third quarter valued at $829,000. 43.03% of the stock is owned by institutional investors and hedge funds.
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Select Energy Services Company Profile
Select Energy Services, Inc, an oilfield services company, provides water solutions to the United States unconventional oil and gas industry. The company operates through three segments: Water Solutions, Accommodations and Rentals, and Wellsite Completion and Construction Services. The Water Solutions segment provides water solutions, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary pipe; 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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