B. Riley set a $22.00 target price on Select Energy Services (NYSE:WTTR) in a research report released on Monday. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Select Energy Services’ Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.25 EPS and FY2019 earnings at $0.92 EPS.
WTTR has been the topic of several other reports. Seaport Global Securities reaffirmed a buy rating and set a $27.00 target price on shares of Select Energy Services in a research report on Monday. Zacks Investment Research raised Select Energy Services from a hold rating to a strong-buy rating and set a $18.00 price objective on the stock in a report on Wednesday, August 1st. Royal Bank of Canada assumed coverage on Select Energy Services in a report on Monday, June 4th. They issued an outperform rating and a $20.00 price objective on the stock. ValuEngine lowered Select Energy Services from a hold rating to a sell rating in a report on Tuesday, May 22nd. Finally, Citigroup increased their price objective on Select Energy Services from $14.00 to $15.50 and gave the company a neutral rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $18.86.
Shares of NYSE:WTTR opened at $13.01 on Monday. Select Energy Services has a 1 year low of $11.50 and a 1 year high of $21.96. The stock has a market cap of $1.57 billion, a P/E ratio of 16.26 and a beta of 2.44. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09.
In related news, CFO Nick L. Swyka bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average cost of $13.64 per share, with a total value of $34,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Gillette sold 12,883 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $13.45, for a total value of $173,276.35. The disclosure for this sale can be found here. 8.29% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of WTTR. Millennium Management LLC lifted its position in shares of Select Energy Services by 95.4% in the second quarter. Millennium Management LLC now owns 361,124 shares of the company’s stock valued at $5,247,000 after acquiring an additional 176,302 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Select Energy Services by 57.0% in the second quarter. MetLife Investment Advisors LLC now owns 21,969 shares of the company’s stock valued at $319,000 after acquiring an additional 7,972 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Select Energy Services by 61.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,515 shares of the company’s stock valued at $225,000 after acquiring an additional 5,890 shares in the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Select Energy Services in the second quarter valued at approximately $748,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Select Energy Services in the second quarter valued at approximately $6,905,000. Institutional investors own 45.49% of the company’s stock.
Select Energy Services Company Profile
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and 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 hose; 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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