Wall Street analysts forecast that Select Energy Services Inc (NYSE:WTTR) will announce sales of $289.61 million for the current quarter, according to Zacks. Three analysts have made estimates for Select Energy Services’ earnings, with the highest sales estimate coming in at $291.49 million and the lowest estimate coming in at $287.34 million. Select Energy Services reported sales of $362.32 million during the same quarter last year, which would suggest a negative year over year growth rate of 20.1%. The company is scheduled to announce its next earnings results after the market closes on Monday, February 24th.
According to Zacks, analysts expect that Select Energy Services will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $1.30 billion to $1.31 billion. For the next year, analysts expect that the firm will report sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Select Energy Services.
A number of equities analysts recently weighed in on the stock. Wells Fargo & Co upped their target price on shares of Select Energy Services from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Thursday, January 9th. Zacks Investment Research reaffirmed a “sell” rating on shares of Select Energy Services in a research note on Saturday, February 8th. Finally, ValuEngine lowered shares of Select Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Select Energy Services has an average rating of “Hold” and a consensus price target of $13.08.
Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Select Energy Services by 148.0% in the first quarter. First Trust Advisors LP now owns 335,367 shares of the company’s stock worth $4,031,000 after buying an additional 200,158 shares during the period. Vanguard Group Inc. boosted its position 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 worth $31,499,000 after buying an additional 198,125 shares during the period. Bank of America Corp DE boosted its position in shares of Select Energy Services by 4.5% in the second quarter. Bank of America Corp DE now owns 80,516 shares of the company’s stock worth $934,000 after buying an additional 3,462 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Select Energy Services by 11.5% in the second quarter. UBS Asset Management Americas Inc. now owns 51,709 shares of the company’s stock worth $600,000 after buying an additional 5,315 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Select Energy Services in the second quarter worth $2,741,000. Institutional investors own 57.72% 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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