Select Energy Services (NYSE:WTTR) PT Raised to $10.50

Select Energy Services (NYSE:WTTR) had its price objective boosted by Wells Fargo & Co from $9.00 to $10.50 in a report released on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Co‘s target price suggests a potential upside of 11.94% from the company’s previous close.

Separately, ValuEngine raised Select Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $13.36.

Shares of WTTR stock opened at $9.38 on Thursday. Select Energy Services has a 52-week low of $7.10 and a 52-week high of $12.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 2.56. The firm has a market capitalization of $997.25 million, a P/E ratio of 10.91 and a beta of 2.74. The stock has a 50 day moving average price of $8.67 and a 200 day moving average price of $8.79.

Select Energy Services (NYSE:WTTR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). Select Energy Services had a positive return on equity of 3.57% and a negative net margin of 0.06%. The business had revenue of $329.00 million for the quarter, compared to the consensus estimate of $314.57 million. During the same period in the prior year, the business posted $0.29 earnings per share. Select Energy Services’s revenue was down 17.1% on a year-over-year basis. As a group, sell-side analysts forecast that Select Energy Services will post 0.3 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of WTTR. First Trust Advisors LP raised its position in Select Energy Services by 148.0% during the 1st quarter. First Trust Advisors LP now owns 335,367 shares of the company’s stock valued at $4,031,000 after purchasing an additional 200,158 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Select Energy Services by 14.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,284 shares of the company’s stock valued at $259,000 after purchasing an additional 2,858 shares in the last quarter. Penn Capital Management Co. Inc. bought a new stake in Select Energy Services during the 2nd quarter valued at $5,035,000. Prudential Financial Inc. raised its position in Select Energy Services by 6.0% during the 2nd quarter. Prudential Financial Inc. now owns 317,580 shares of the company’s stock valued at $3,687,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Select Energy Services by 21.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 28,061 shares of the company’s stock valued at $326,000 after purchasing an additional 4,912 shares in the last quarter. 57.64% of the stock is owned by institutional investors and hedge funds.

Select Energy Services Company Profile

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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Analyst Recommendations for Select Energy Services (NYSE:WTTR)

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