Select Energy Services (NYSE:WTTR) had its target price hoisted by Wells Fargo & Co from $14.00 to $15.00 in a research report sent to investors on Thursday morning. They currently have a buy rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. Johnson Rice initiated coverage on shares of Select Energy Services in a research report on Friday, October 5th. They issued an accumulate rating and a $16.00 price target on the stock. B. Riley set a $22.00 price target on shares of Select Energy Services and gave the stock a buy rating in a research report on Sunday, October 7th. Piper Jaffray Companies restated a buy rating on shares of Select Energy Services in a research report on Thursday, August 16th. Seaport Global Securities restated a buy rating and issued a $27.00 price target on shares of Select Energy Services in a research report on Monday, August 13th. Finally, TheStreet cut shares of Select Energy Services from a c- rating to a d+ rating in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.00.
Shares of WTTR stock traded down $0.38 during mid-day trading on Thursday, hitting $10.55. The company had a trading volume of 452,745 shares, compared to its average volume of 625,207. Select Energy Services has a 52-week low of $9.11 and a 52-week high of $21.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.16 and a current ratio of 2.40. The company has a market capitalization of $1.07 billion, a PE ratio of 13.19 and a beta of 2.21.
Select Energy Services (NYSE:WTTR) last released its earnings results on Tuesday, November 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Select Energy Services had a net margin of 2.80% and a return on equity of 5.02%. The firm had revenue of $396.97 million for the quarter, compared to the consensus estimate of $406.52 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s quarterly revenue was up 158.0% compared to the same quarter last year. On average, research analysts predict that Select Energy Services will post 0.91 EPS for the current fiscal year.
In other news, CFO Nick L. Swyka acquired 2,500 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of $13.64 per share, for a total transaction of $34,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.29% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Select Energy Services by 84.5% in the second quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock worth $44,746,000 after purchasing an additional 1,410,240 shares during the last quarter. Viking Fund Management LLC bought a new position in shares of Select Energy Services in the second quarter worth about $3,197,000. Swiss National Bank grew its holdings in shares of Select Energy Services by 67.6% in the second quarter. Swiss National Bank now owns 80,300 shares of the company’s stock worth $1,167,000 after purchasing an additional 32,400 shares during the last quarter. AGF Investments Inc. grew its holdings in shares of Select Energy Services by 647.3% in the second quarter. AGF Investments Inc. now owns 138,363 shares of the company’s stock worth $2,010,000 after purchasing an additional 119,849 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC bought a new position in shares of Select Energy Services in the second quarter worth about $467,000. Institutional investors and hedge funds own 52.45% of the company’s stock.
About Select Energy Services
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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