ValuEngine Lowers Select Energy Services (WTTR) to Sell

ValuEngine downgraded shares of Select Energy Services (NYSE:WTTR) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Several other analysts have also recently commented on WTTR. Seaport Global Securities restated a buy rating on shares of Select Energy Services in a research note on Thursday, April 19th. B. Riley restated a buy rating on shares of Select Energy Services in a research note on Tuesday, May 22nd. Zacks Investment Research cut shares of Select Energy Services from a strong-buy rating to a hold rating in a research note on Saturday, June 2nd. Royal Bank of Canada started coverage on shares of Select Energy Services in a research note on Monday, June 4th. They issued an outperform rating and a $20.00 target price for the company. Finally, Citigroup raised their target price on shares of Select Energy Services from $14.00 to $15.50 and gave the stock a neutral rating in a research note 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 presently has a consensus rating of Buy and a consensus price target of $18.86.

WTTR stock opened at $13.01 on Tuesday. Select Energy Services has a one year low of $11.50 and a one year high of $21.96. The firm has a market capitalization of $1.57 billion, a PE ratio of 16.26 and a beta of 2.44. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.09.

Select Energy Services (NYSE:WTTR) last released its earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Select Energy Services had a net margin of 1.58% and a return on equity of 3.78%. The company had revenue of $393.20 million during the quarter, compared to analysts’ expectations of $403.45 million. During the same quarter last year, the business earned ($0.16) EPS. The business’s revenue was up 192.6% on a year-over-year basis. research analysts expect that Select Energy Services will post 0.92 EPS for the current year.

In other news, insider Gary Gillette sold 12,883 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $13.45, for a total value of $173,276.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nick L. Swyka purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $13.64 per share, with a total value of $34,100.00. The disclosure for this purchase can be found here. Company insiders own 8.29% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY purchased a new position in shares of Select Energy Services in the 4th quarter valued at about $176,000. Salzhauer Michael purchased a new position in shares of Select Energy Services in the 1st quarter valued at about $126,000. Koch Industries Inc. purchased a new position in shares of Select Energy Services in the 1st quarter valued at about $127,000. Parkwood LLC purchased a new position in shares of Select Energy Services in the 2nd quarter valued at about $149,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Select Energy Services in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 45.49% 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 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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Analyst Recommendations for Select Energy Services (NYSE:WTTR)

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