Viking Fund Management LLC Sells 30,000 Shares of Select Energy Services Inc (WTTR)

Viking Fund Management LLC trimmed its holdings in Select Energy Services Inc (NYSE:WTTR) by 8.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,000 shares of the company’s stock after selling 30,000 shares during the period. Viking Fund Management LLC’s holdings in Select Energy Services were worth $3,846,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WTTR. Prudential Financial Inc. bought a new stake in shares of Select Energy Services during the 4th quarter worth $448,000. Point72 Asset Management L.P. bought a new stake in shares of Select Energy Services during the 3rd quarter worth $2,085,000. BlackRock Inc. boosted its holdings in shares of Select Energy Services by 24.7% during the 3rd quarter. BlackRock Inc. now owns 3,841,123 shares of the company’s stock worth $45,479,000 after buying an additional 761,511 shares during the period. Putnam Investments LLC boosted its holdings in shares of Select Energy Services by 197.5% during the 3rd quarter. Putnam Investments LLC now owns 268,545 shares of the company’s stock worth $3,180,000 after buying an additional 178,283 shares during the period. Finally, Energy Opportunities Capital Management LLC boosted its holdings in Select Energy Services by 196.5% in the 3rd quarter. Energy Opportunities Capital Management LLC now owns 95,315 shares of the company’s stock valued at $1,129,000 after purchasing an additional 63,165 shares during the period. 58.70% of the stock is owned by institutional investors.

A number of analysts have weighed in on the stock. ValuEngine raised shares of Select Energy Services from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 12th. Piper Jaffray Companies set a $14.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Tuesday, March 5th. Credit Suisse Group set a $12.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada set a $15.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, Wells Fargo & Co set a $14.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.30.

Select Energy Services stock traded up $0.03 during mid-day trading on Monday, reaching $12.13. The company had a trading volume of 6,754 shares, compared to its average volume of 540,372. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.40 and a quick ratio of 2.15. Select Energy Services Inc has a 52 week low of $6.05 and a 52 week high of $17.86. The company has a market cap of $1.26 billion, a PE ratio of 14.15 and a beta of 3.24.

Select Energy Services (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Select Energy Services had a net margin of 2.39% and a return on equity of 5.94%. The firm had revenue of $362.32 million during the quarter, compared to the consensus estimate of $362.50 million. Analysts expect that Select Energy Services Inc will post 0.71 earnings per share for the current fiscal year.

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Select Energy Services Profile

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.

Further Reading: Outstanding Shares, Buying and Selling Stocks

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Institutional Ownership by Quarter for Select Energy Services (NYSE:WTTR)

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