Select Energy Services (WTTR) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Select Energy Services (NYSE:WTTR) from a hold rating to a sell rating in a report published on Tuesday.

Several other research firms also recently weighed in on WTTR. B. Riley reissued a buy rating on shares of Select Energy Services in a report on Tuesday, May 22nd. Zacks Investment Research raised Select Energy Services from a hold rating to a strong-buy rating and set a $18.00 price objective for the company in a report on Wednesday, August 1st. Citigroup increased their price objective on Select Energy Services from $14.00 to $15.50 and gave the company a neutral rating in a report on Wednesday, July 11th. Seaport Global Securities reissued a buy rating on shares of Select Energy Services in a report on Thursday, April 19th. Finally, Credit Suisse Group decreased their price objective on Select Energy Services from $21.00 to $18.00 and set an outperform rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $18.86.

Shares of Select Energy Services stock opened at $13.17 on Tuesday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 16.46 and a beta of 2.44. Select Energy Services has a 52 week low of $11.50 and a 52 week high of $21.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.17 and a current ratio of 2.39.

Select Energy Services (NYSE:WTTR) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The business had revenue of $393.20 million during the quarter, compared to the consensus estimate of $403.45 million. Select Energy Services had a return on equity of 3.78% and a net margin of 1.58%. The company’s revenue was up 192.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) earnings per share. analysts anticipate that Select Energy Services will post 0.92 EPS for the current fiscal year.

In other news, insider Gary Gillette sold 12,883 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $13.45, for a total value of $173,276.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.29% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. Salzhauer Michael acquired a new stake in shares of Select Energy Services during the first quarter worth $126,000. Koch Industries Inc. acquired a new stake in shares of Select Energy Services during the first quarter worth $127,000. Parkwood LLC acquired a new stake in shares of Select Energy Services during the second quarter worth $149,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Select Energy Services during the fourth quarter worth $176,000. Finally, Barclays PLC lifted its holdings in shares of Select Energy Services by 57.1% during the first quarter. Barclays PLC now owns 14,665 shares of the company’s stock worth $185,000 after purchasing an additional 5,329 shares during the period. 45.49% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Select Energy Services (NYSE:WTTR)

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