Shares of Select Energy Services Inc (NYSE:WTTR) have been assigned an average recommendation of “Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $13.50.
Several research firms recently issued reports on WTTR. Royal Bank of Canada reiterated a “buy” rating and set a $10.00 price target on shares of Select Energy Services in a research report on Thursday, August 8th. Wells Fargo & Co reduced their price target on shares of Select Energy Services from $10.50 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, September 12th. TheStreet lowered shares of Select Energy Services from a “c-” rating to a “d+” rating in a research report on Tuesday, September 3rd. Finally, ValuEngine upgraded shares of Select Energy Services from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 4th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new stake in shares of Select Energy Services during the 2nd quarter worth approximately $25,000. Oppenheimer Asset Management Inc. acquired a new stake in Select Energy Services in the second quarter valued at approximately $55,000. BNP Paribas Arbitrage SA boosted its position in Select Energy Services by 579.6% in the first quarter. BNP Paribas Arbitrage SA now owns 9,617 shares of the company’s stock valued at $116,000 after buying an additional 8,202 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Select Energy Services in the second quarter valued at approximately $139,000. Finally, Bank of Montreal Can boosted its position in Select Energy Services by 2,021.4% in the first quarter. Bank of Montreal Can now owns 13,513 shares of the company’s stock valued at $163,000 after buying an additional 12,876 shares in the last quarter. Institutional investors and hedge funds own 59.44% of the company’s stock.
Select Energy Services (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). The firm had revenue of $323.90 million for the quarter, compared to analyst estimates of $357.28 million. Select Energy Services had a return on equity of 5.12% and a net margin of 1.16%. The business’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, sell-side analysts expect that Select Energy Services will post 0.49 EPS for the current fiscal year.
About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural 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 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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