Select Energy Services (WTTR) Trading Up 5.8%

Select Energy Services Inc (NYSE:WTTR)’s share price was up 5.8% during mid-day trading on Tuesday . The stock traded as high as $15.06 and last traded at $15.04. Approximately 1,101,063 shares changed hands during trading, an increase of 91% from the average daily volume of 577,373 shares. The stock had previously closed at $14.21.

Several equities analysts have recently issued reports on WTTR shares. B. Riley set a $24.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded shares of Select Energy Services from a “buy” rating to a “sell” rating in a research note on Wednesday, March 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price target on shares of Select Energy Services in a research note on Thursday, March 15th. Stephens started coverage on shares of Select Energy Services in a research note on Thursday, April 12th. They set an “overweight” rating and a $16.00 price target for the company. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Select Energy Services in a research note on Thursday, April 19th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.80.

The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.19 and a beta of 2.52.

Select Energy Services (NYSE:WTTR) last posted its quarterly earnings data on Thursday, May 10th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.08. Select Energy Services had a negative net margin of 0.18% and a positive return on equity of 2.59%. The company had revenue of $376.40 million during the quarter, compared to analysts’ expectations of $376.65 million. During the same period in the prior year, the company posted ($0.21) earnings per share. Select Energy Services’s revenue for the quarter was up 276.7% compared to the same quarter last year. equities research analysts expect that Select Energy Services Inc will post 0.87 EPS for the current fiscal year.

In other news, insider Gary Gillette sold 12,883 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $13.45, for a total transaction of $173,276.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.29% of the company’s stock.

Large investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY acquired a new stake in Select Energy Services in the fourth quarter worth $176,000. Salzhauer Michael acquired a new stake in Select Energy Services in the first quarter worth $126,000. Koch Industries Inc. acquired a new stake in Select Energy Services in the first quarter worth $127,000. Alliancebernstein L.P. acquired a new stake in Select Energy Services in the fourth quarter worth $201,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Select Energy Services in the fourth quarter worth $255,000. Institutional investors and hedge funds own 43.26% 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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