Select Energy Services (NYSE:WTTR) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Saturday, Zacks.com reports.
According to Zacks, "Select Energy Services, Inc. is a provider of water solutions to the U.S. unconventional oil and gas industry. It offers drilling and completion activities associated with hydraulic fracturing as well as complementary water-related services which support oil and gas well completion and production activities including containment, monitoring, treatment, flowback, hauling and disposal. Select Energy Services, Inc. is headquartered in Gainesville, Texas. "
Other research analysts have also recently issued reports about the company. ValuEngine raised Select Energy Services from a "hold" rating to a "buy" rating in a research note on Tuesday, June 9th. Citigroup reduced their price objective on Select Energy Services from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 8th. Piper Sandler reduced their price objective on Select Energy Services from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Monday, April 6th. B. Riley reduced their price objective on Select Energy Services from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Royal Bank of Canada reaffirmed a "buy" rating and set a $7.00 price objective on shares of Select Energy Services in a research note on Thursday, June 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of "Hold" and an average target price of $5.91.
Shares of Select Energy Services stock traded down $0.36 during trading on Friday, hitting $4.44. The stock had a trading volume of 337,818 shares, compared to its average volume of 198,854. The firm has a market cap of $457.63 million, a price-to-earnings ratio of -1.57 and a beta of 3.04. Select Energy Services has a 12 month low of $2.22 and a 12 month high of $10.50. The business's 50-day moving average is $4.81 and its 200 day moving average is $5.23. The company has a current ratio of 3.10, a quick ratio of 2.81 and a debt-to-equity ratio of 0.08.
Select Energy Services (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the Zacks' consensus estimate of ($0.02) by $0.47. The business had revenue of $278.29 million for the quarter, compared to analysts' expectations of $278.70 million. Select Energy Services had a positive return on equity of 3.82% and a negative net margin of 20.23%. As a group, equities analysts expect that Select Energy Services will post -0.31 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC grew its stake in Select Energy Services by 293.5% in the first quarter. Parametric Portfolio Associates LLC now owns 440,852 shares of the company's stock worth $1,424,000 after purchasing an additional 328,813 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Select Energy Services in the first quarter worth $1,391,000. Wellington Management Group LLP grew its stake in shares of Select Energy Services by 14.1% in the first quarter. Wellington Management Group LLP now owns 403,660 shares of the company's stock worth $1,304,000 after acquiring an additional 50,000 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Select Energy Services by 10.1% in the first quarter. Alliancebernstein L.P. now owns 103,514 shares of the company's stock worth $334,000 after acquiring an additional 9,482 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Select Energy Services by 39.8% in the first quarter. BNP Paribas Arbitrage SA now owns 18,188 shares of the company's stock worth $59,000 after acquiring an additional 5,177 shares during the last quarter. 62.59% of the stock is currently owned by institutional investors.
Select Energy Services Company 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.
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