Select Energy Services (WTTR) Downgraded to “Hold” at Zacks Investment Research

Select Energy Services (NYSE:WTTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

Several other research firms have also recently weighed in on WTTR. BidaskClub upgraded shares of Select Energy Services from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Citigroup cut shares of Select Energy Services from a “buy” rating to a “sell” rating and cut their price target for the company from $18.00 to $15.00 in a report on Wednesday, September 27th. B. Riley reiterated a “buy” rating on shares of Select Energy Services in a report on Wednesday, November 1st. Bank of America reiterated a “buy” rating and issued a $20.00 price target on shares of Select Energy Services in a report on Friday, December 8th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $20.00 price target on shares of Select Energy Services in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.78.

Select Energy Services (NYSE:WTTR) opened at $20.90 on Friday. 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. The stock has a market cap of $2,220.00 and a P/E ratio of 5.23.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Wednesday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Select Energy Services had a negative net margin of 6.18% and a negative return on equity of 6.04%. The firm had revenue of $153.90 million for the quarter, compared to analysts’ expectations of $147.65 million. During the same quarter last year, the business earned ($0.28) earnings per share. The business’s revenue was up 108.3% on a year-over-year basis. research analysts forecast that Select Energy Services will post -0.02 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in WTTR. Russell Investments Group Ltd. bought a new stake in Select Energy Services in the second quarter valued at $613,000. Schwab Charles Investment Management Inc. purchased a new position in Select Energy Services during the second quarter valued at $192,000. Bank of New York Mellon Corp purchased a new position in Select Energy Services during the second quarter valued at $7,987,000. Alliancebernstein L.P. purchased a new position in Select Energy Services during the second quarter valued at $141,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Select Energy Services during the second quarter valued at $644,000. 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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