Select Energy Services (NYSE:WTTR) received a $22.00 price objective from stock analysts at B. Riley in a report released on Sunday. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 72.55% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Select Energy Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Citigroup dropped their target price on shares of Select Energy Services from $15.50 to $14.00 and set a “neutral” rating for the company in a research report on Friday, September 14th. Johnson Rice began coverage on shares of Select Energy Services in a research report on Friday. They set an “accumulate” rating and a $16.00 target price for the company. ValuEngine downgraded shares of Select Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Credit Suisse Group lowered their price objective on shares of Select Energy Services from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.58.
Shares of WTTR stock opened at $12.75 on Friday. The stock has a market cap of $1.26 billion, a PE ratio of 15.94 and a beta of 2.19. Select Energy Services has a 1-year low of $11.50 and a 1-year high of $21.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.16 and a current ratio of 2.40.
In other news, CFO Nick L. Swyka acquired 2,500 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.29% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in WTTR. BlackRock Inc. grew its position in shares of Select Energy Services by 84.5% during the second quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock worth $44,746,000 after buying an additional 1,410,240 shares in the last quarter. Arosa Capital Management LP grew its position in shares of Select Energy Services by 169.5% during the first quarter. Arosa Capital Management LP now owns 1,175,141 shares of the company’s stock worth $14,830,000 after buying an additional 739,141 shares in the last quarter. Hillman Co. acquired a new stake in shares of Select Energy Services during the second quarter worth approximately $10,061,000. Bank of New York Mellon Corp grew its position in shares of Select Energy Services by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock worth $55,390,000 after buying an additional 659,270 shares in the last quarter. Finally, American Financial Group Inc. grew its position in shares of Select Energy Services by 61.8% during the second quarter. American Financial Group Inc. now owns 1,413,948 shares of the company’s stock worth $20,544,000 after buying an additional 540,140 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.
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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