Select Energy Services Inc (NYSE:WTTR) Short Interest Update

Select Energy Services Inc (NYSE:WTTR) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,290,000 shares, a decrease of 22.6% from the September 30th total of 2,960,000 shares. Based on an average daily volume of 444,800 shares, the days-to-cover ratio is currently 5.1 days. Currently, 3.1% of the shares of the company are sold short.

WTTR opened at $7.82 on Thursday. Select Energy Services has a 1-year low of $6.05 and a 1-year high of $12.75. The company has a current ratio of 2.56, a quick ratio of 2.32 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $840.07 million, a price-to-earnings ratio of 9.09 and a beta of 2.69. The business has a 50 day moving average of $7.95 and a 200-day moving average of $9.64.

Select Energy Services (NYSE:WTTR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Select Energy Services had a negative net margin of 0.06% and a positive return on equity of 3.58%. The business had revenue of $329.00 million during the quarter, compared to the consensus estimate of $314.57 million. During the same period in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. Equities analysts predict that Select Energy Services will post 0.4 EPS for the current year.

WTTR has been the subject of several research reports. Wells Fargo & Co reduced their price objective on Select Energy Services from $10.50 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, September 12th. ValuEngine cut Select Energy Services from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued a “buy” rating and issued a $10.00 price objective on shares of Select Energy Services in a research report on Thursday, August 8th. Finally, TheStreet cut Select Energy Services from a “c-” rating to a “d+” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $13.50.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Select Energy Services by 16.6% in the second quarter. BlackRock Inc. now owns 4,244,866 shares of the company’s stock valued at $49,283,000 after purchasing an additional 605,650 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Select Energy Services by 7.9% in the second quarter. Vanguard Group Inc. now owns 2,713,036 shares of the company’s stock valued at $31,499,000 after purchasing an additional 198,125 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Select Energy Services by 0.3% in the second quarter. Jennison Associates LLC now owns 756,778 shares of the company’s stock valued at $8,786,000 after purchasing an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Select Energy Services by 4,711.8% in the second quarter. JPMorgan Chase & Co. now owns 649,982 shares of the company’s stock valued at $7,637,000 after purchasing an additional 636,474 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Select Energy Services by 5.5% in the second quarter. Northern Trust Corp now owns 612,038 shares of the company’s stock valued at $7,106,000 after purchasing an additional 31,668 shares in the last quarter. Institutional investors and hedge funds own 57.51% 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 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.

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