Stephens began coverage on shares of Select Energy Services (NYSE:WTTR) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $16.00 price target on the stock.
Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Select Energy Services from a hold rating to a sell rating in a research note on Friday, February 2nd. Zacks Investment Research cut Select Energy Services from a buy rating to a hold rating in a research note on Saturday, January 13th. B. Riley boosted their price objective on Select Energy Services from $21.00 to $24.00 and gave the stock a buy rating in a research note on Friday, January 26th. Piper Jaffray reissued a buy rating and set a $18.00 price objective on shares of Select Energy Services in a research note on Thursday, March 15th. Finally, Citigroup raised Select Energy Services from a sell rating to a neutral rating and set a $17.00 price objective on the stock in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $18.80.
Shares of NYSE:WTTR traded up $0.36 during mid-day trading on Thursday, reaching $13.79. The stock had a trading volume of 151,582 shares, compared to its average volume of 420,300. The company has a current ratio of 2.41, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09. Select Energy Services has a 1 year low of $11.22 and a 1 year high of $21.96.
In other Select Energy Services news, CEO Holli C. Ladhani bought 29,388 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were purchased at an average price of $13.87 per share, with a total value of $407,611.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Alan Burnett bought 2,500 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $14.14 per share, for a total transaction of $35,350.00. The disclosure for this purchase can be found here. Corporate insiders own 8.29% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Simmons L E & Associates Inc. bought a new position in Select Energy Services in the fourth quarter worth approximately $295,330,000. K2 Principal Fund L.P. lifted its holdings in Select Energy Services by 424.5% during the fourth quarter. K2 Principal Fund L.P. now owns 365,969 shares of the company’s stock worth $6,675,000 after buying an additional 296,198 shares during the period. Wells Fargo & Company MN lifted its holdings in Select Energy Services by 555.8% during the third quarter. Wells Fargo & Company MN now owns 39,823 shares of the company’s stock worth $633,000 after buying an additional 33,751 shares during the period. Arosa Capital Management LP purchased a new stake in Select Energy Services during the fourth quarter worth $7,953,000. Finally, Nokomis Capital L.L.C. purchased a new stake in Select Energy Services during the fourth quarter worth $12,134,000. 43.03% of the stock is currently owned by institutional investors.
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About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water solutions to the United States unconventional oil and gas industry. The company operates through three segments: Water Solutions, Accommodations and Rentals, and Wellsite Completion and Construction Services. The Water Solutions segment provides water solutions, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary pipe; 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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