Select Energy Services Inc (NASDAQ:WTTR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Select Energy Services Inc (NASDAQ:WTTR) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.71.

WTTR has been the subject of several research analyst reports. FBR & Co initiated coverage on shares of Select Energy Services in a research note on Tuesday, May 16th. They set an “outperform” rating and a $23.00 price target for the company. Piper Jaffray Companies initiated coverage on shares of Select Energy Services in a research note on Tuesday, May 16th. They set an “overweight” rating and a $21.00 price target for the company. J P Morgan Chase & Co initiated coverage on shares of Select Energy Services in a research note on Tuesday, May 16th. They set a “neutral” rating and a $16.00 price target for the company. Citigroup Inc. initiated coverage on shares of Select Energy Services in a research note on Tuesday, May 16th. They set a “buy” rating and a $19.00 price target for the company. Finally, Bank of America Corporation initiated coverage on shares of Select Energy Services in a research note on Tuesday, May 16th. They set a “buy” rating and a $20.00 price target for the company.

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Institutional investors have recently modified their holdings of the stock. Skylands Capital LLC acquired a new position in shares of Select Energy Services during the second quarter valued at about $531,000. Spark Investment Management LLC acquired a new position in shares of Select Energy Services during the second quarter valued at about $1,545,000. Russell Investments Group Ltd. acquired a new position in shares of Select Energy Services during the second quarter valued at about $613,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Select Energy Services during the second quarter valued at about $644,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Select Energy Services during the second quarter valued at about $141,000.

Select Energy Services (NASDAQ:WTTR) traded down 1.06% on Tuesday, hitting $15.00. The company’s stock had a trading volume of 135,357 shares. The firm has a 50 day moving average of $13.56 and a 200-day moving average of $13.56. Select Energy Services has a 12 month low of $11.22 and a 12 month high of $15.95. The stock has a market cap of $454.67 million and a PE ratio of 0.93.

Select Energy Services (NASDAQ:WTTR) last announced its quarterly earnings data on Wednesday, May 17th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The firm had revenue of $99.90 million during the quarter, compared to the consensus estimate of $100.17 million. Select Energy Services had a negative return on equity of 11.02% and a negative net margin of 7.80%. Select Energy Services’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts expect that Select Energy Services will post $0.04 earnings per share for the current fiscal year.

About Select Energy Services

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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