Select Energy Services (NYSE:WTTR) Rating Lowered to Sell at Zacks Investment Research

Select Energy Services (NYSE:WTTR) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Wednesday, March 14th.

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. “

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Several other research firms have also commented on WTTR. B. Riley lifted their price target on Select Energy Services from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, January 26th. ValuEngine lowered Select Energy Services from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Citigroup upgraded Select Energy Services from a “sell” rating to a “neutral” rating and set a $17.00 price target on the stock in a report on Tuesday, February 13th. Bank of America reiterated a “buy” rating and set a $20.00 price target on shares of Select Energy Services in a report on Friday, December 8th. Finally, Wells Fargo reiterated an “outperform” rating and set a $20.00 price target on shares of Select Energy Services in a report on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.11.

WTTR stock traded down $0.42 during midday trading on Wednesday, reaching $12.25. The stock had a trading volume of 264,432 shares, compared to its average volume of 479,836. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.17 and a current ratio of 2.41. The firm has a market capitalization of $1,346.35 and a P/E ratio of 15.31. Select Energy Services has a 52-week low of $11.22 and a 52-week high of $21.96.

Select Energy Services (NYSE:WTTR) last announced its quarterly earnings data on Wednesday, March 7th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The firm had revenue of $304.24 million during the quarter, compared to analysts’ expectations of $294.60 million. Select Energy Services had a negative net margin of 2.31% and a positive return on equity of 0.96%. equities analysts forecast that Select Energy Services will post 0.85 earnings per share for the current year.

In other Select Energy Services news, CEO Holli C. Ladhani acquired 29,388 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was purchased at an average cost of $13.87 per share, with a total value of $407,611.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Alan Burnett acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were acquired 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.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTTR. Alliancebernstein L.P. acquired a new position in Select Energy Services in the 2nd quarter valued at about $141,000. New York State Common Retirement Fund acquired a new position in Select Energy Services in the 2nd quarter valued at about $102,000. Northern Trust Corp acquired a new position in Select Energy Services in the 2nd quarter valued at about $748,000. Vanguard Group Inc. acquired a new position in Select Energy Services in the 2nd quarter valued at about $5,078,000. Finally, Parametric Portfolio Associates LLC acquired a new position in Select Energy Services in the 2nd quarter valued at about $736,000. 43.03% of the stock is owned by institutional investors.

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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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