Piper Sandler Research Analysts Boost Earnings Estimates for Select Energy Services Inc (NYSE:WTTR)

Select Energy Services Inc (NYSE:WTTR) – Equities researchers at Piper Sandler increased their Q2 2020 EPS estimates for Select Energy Services in a research report issued to clients and investors on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now anticipates that the company will post earnings per share of ($0.33) for the quarter, up from their prior estimate of ($0.38). Piper Sandler currently has a “Neutral” rating and a $3.50 target price on the stock. Piper Sandler also issued estimates for Select Energy Services’ Q3 2020 earnings at ($0.28) EPS, Q4 2020 earnings at ($0.26) EPS, Q1 2021 earnings at ($0.20) EPS, Q2 2021 earnings at ($0.17) EPS, Q3 2021 earnings at ($0.14) EPS, Q4 2021 earnings at ($0.17) EPS and FY2021 earnings at ($0.68) EPS.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.47. The company had revenue of $278.29 million during the quarter, compared to analysts’ expectations of $278.70 million. Select Energy Services had a negative net margin of 20.23% and a positive return on equity of 3.82%.

WTTR has been the subject of several other reports. Zacks Investment Research restated a “hold” rating on shares of Select Energy Services in a research report on Saturday, June 13th. Royal Bank of Canada reiterated a “buy” rating and set a $7.00 price objective on shares of Select Energy Services in a research report on Thursday, June 4th. Stephens cut shares of Select Energy Services to a “hold” rating and set a $3.00 price objective for the company. in a research report on Friday, March 20th. Citigroup lowered their price objective on shares of Select Energy Services from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, B. Riley lowered their price objective on shares of Select Energy Services from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Select Energy Services has an average rating of “Hold” and a consensus price target of $5.91.

Shares of NYSE:WTTR opened at $4.86 on Monday. The firm has a 50 day moving average of $5.25 and a 200-day moving average of $5.94. The stock has a market capitalization of $500.92 million, a PE ratio of -1.72 and a beta of 3.06. The company has a current ratio of 3.10, a quick ratio of 2.81 and a debt-to-equity ratio of 0.08. Select Energy Services has a 12 month low of $2.22 and a 12 month high of $12.22.

Several large investors have recently bought and sold shares of WTTR. Great West Life Assurance Co. Can bought a new stake in shares of Select Energy Services in the 4th quarter valued at $33,000. Arizona State Retirement System bought a new position in Select Energy Services during the first quarter worth $49,000. BNP Paribas Arbitrage SA boosted its stake in Select Energy Services by 39.8% during the first quarter. BNP Paribas Arbitrage SA now owns 18,188 shares of the company’s stock worth $59,000 after acquiring an additional 5,177 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Select Energy Services by 26.3% during the first quarter. Envestnet Asset Management Inc. now owns 20,047 shares of the company’s stock worth $65,000 after acquiring an additional 4,171 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new position in Select Energy Services during the first quarter worth $69,000. 62.77% of the stock is currently owned by institutional investors.

In other Select Energy Services news, CEO Holli C. Ladhani bought 14,524 shares of Select Energy Services stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $3.44 per share, with a total value of $49,962.56. Following the acquisition, the chief executive officer now directly owns 542,721 shares of the company’s stock, valued at approximately $1,866,960.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.56% of the company’s stock.

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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Earnings History and Estimates for Select Energy Services (NYSE:WTTR)

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