Select Energy Services Inc (NYSE:WTTR) Expected to Post Quarterly Sales of $289.61 Million

Brokerages expect that Select Energy Services Inc (NYSE:WTTR) will post $289.61 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Select Energy Services’ earnings, with estimates ranging from $287.34 million to $291.49 million. Select Energy Services reported sales of $362.32 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.1%. The company is expected to announce its next earnings report after the market closes on Monday, February 24th.

According to Zacks, analysts expect that Select Energy Services will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $1.30 billion to $1.31 billion. For the next year, analysts forecast that the company will post sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Select Energy Services.

Several analysts have recently issued reports on WTTR shares. Wells Fargo & Co increased their price target on shares of Select Energy Services from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. Zacks Investment Research reaffirmed a “sell” rating on shares of Select Energy Services in a report on Saturday, February 8th. Finally, ValuEngine cut shares of Select Energy Services from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.08.

Shares of WTTR traded down $0.05 during mid-day trading on Friday, hitting $7.18. 186,400 shares of the company’s stock were exchanged, compared to its average volume of 284,149. The company has a market cap of $728.55 million, a price-to-earnings ratio of -718.00 and a beta of 2.80. Select Energy Services has a fifty-two week low of $6.69 and a fifty-two 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 stock’s 50-day moving average is $8.21 and its 200-day moving average is $8.26.

A number of large investors have recently modified their holdings of WTTR. Hotchkis & Wiley Capital Management LLC acquired a new stake in Select Energy Services in the fourth quarter valued at approximately $3,651,000. Russell Investments Group Ltd. raised its holdings in Select Energy Services by 1,194.3% in the third quarter. Russell Investments Group Ltd. now owns 363,186 shares of the company’s stock valued at $3,146,000 after acquiring an additional 335,125 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Select Energy Services by 61.9% in the fourth quarter. Renaissance Technologies LLC now owns 733,742 shares of the company’s stock valued at $6,809,000 after acquiring an additional 280,657 shares in the last quarter. Millennium Management LLC raised its holdings in Select Energy Services by 912.4% in the third quarter. Millennium Management LLC now owns 285,084 shares of the company’s stock valued at $2,468,000 after acquiring an additional 256,924 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Select Energy Services in the second quarter valued at approximately $2,741,000. 57.72% of the stock is currently 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 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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