Select Energy Services (WTTR) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Select Energy Services (NYSE:WTTR) released its quarterly earnings results on Tuesday. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02, reports. Select Energy Services had a return on equity of 3.53% and a net margin of 1.58%. The company had revenue of $396.97 million for the quarter, compared to analyst estimates of $406.52 million. During the same quarter in the prior year, the firm posted $0.04 EPS. Select Energy Services’s quarterly revenue was up 158.0% compared to the same quarter last year.

WTTR stock traded up $1.22 during midday trading on Wednesday, reaching $11.21. The company’s stock had a trading volume of 76,062 shares, compared to its average volume of 570,800. The company has a quick ratio of 2.16, a current ratio of 2.40 and a debt-to-equity ratio of 0.09. Select Energy Services has a 1 year low of $9.11 and a 1 year high of $21.96. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 14.01 and a beta of 2.21.

Several analysts recently weighed in on the company. Citigroup decreased their price target on Select Energy Services from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Friday, September 14th. Zacks Investment Research lowered Select Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. JPMorgan Chase & Co. reduced their target price on Select Energy Services from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, September 17th. B. Riley set a $22.00 target price on Select Energy Services and gave the stock a “buy” rating in a research note on Sunday, October 7th. Finally, ValuEngine lowered Select Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Select Energy Services presently has a consensus rating of “Hold” and a consensus target price of $18.08.

In other news, CFO Nick L. Swyka purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $13.64 per share, with a total value of $34,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.29% of the company’s stock.

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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.

Further Reading: Understanding Analyst Ratings

Earnings History for Select Energy Services (NYSE:WTTR)

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