Zacks Investment Research lowered shares of Select Energy Services (NYSE:WTTR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
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 research analysts have also recently commented on WTTR. Citigroup cut shares of Select Energy Services from a buy rating to a sell rating and dropped their target price for the stock from $18.00 to $15.00 in a report on Wednesday, September 27th. BidaskClub raised shares of Select Energy Services from a hold rating to a buy rating in a report on Wednesday, September 27th. B. Riley reissued a buy rating on shares of Select Energy Services in a report on Wednesday, November 1st. Piper Jaffray Companies reissued a buy rating and issued a $20.00 target price on shares of Select Energy Services in a report on Friday, November 10th. Finally, Wells Fargo & Co reissued an outperform rating and issued a $20.00 target price on shares of Select Energy Services in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Select Energy Services currently has a consensus rating of Buy and an average target price of $18.78.
Select Energy Services (NYSE WTTR) opened at $20.90 on Friday. The company has a market cap of $2,220.00 and a PE ratio of 5.23. The company has a quick ratio of 2.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.04. Select Energy Services has a fifty-two week low of $11.22 and a fifty-two week high of $20.97.
Select Energy Services (NYSE:WTTR) last posted its earnings results on Wednesday, November 8th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $153.90 million during the quarter, compared to analysts’ expectations of $147.65 million. Select Energy Services had a negative net margin of 6.18% and a negative return on equity of 6.04%. The business’s revenue for the quarter was up 108.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share. equities research analysts forecast that Select Energy Services will post -0.02 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new position in Select Energy Services in the 2nd quarter valued at approximately $102,000. Alliancebernstein L.P. bought a new position in Select Energy Services in the 2nd quarter valued at approximately $141,000. Schwab Charles Investment Management Inc. bought a new position in Select Energy Services in the 2nd quarter valued at approximately $192,000. California State Teachers Retirement System raised its holdings in Select Energy Services by 117.4% in the 3rd quarter. California State Teachers Retirement System now owns 15,000 shares of the company’s stock valued at $239,000 after buying an additional 8,100 shares during the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in Select Energy Services in the 3rd quarter valued at approximately $252,000. Institutional investors and hedge funds own 22.30% of the company’s stock.
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Select Energy Services Company Profile
Select Energy Services, Inc is a holding company. The Company is provider of total water solutions to the United States unconventional oil and gas industry. The Company is engaged in sourcing and transfer of water prior to its use in drilling and completion activities associated with hydraulic fracturing or fracking, which collectively referrd to as pre-frac water services.
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