Select Energy Services (WTTR) Sets New 52-Week Low at $9.07

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Select Energy Services Inc (NYSE:WTTR)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.07 and last traded at $9.14, with a volume of 420503 shares changing hands. The stock had previously closed at $9.60.

Several equities analysts have recently issued reports on the company. Seaport Global Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Select Energy Services in a research note on Monday, August 13th. Credit Suisse Group decreased their price objective on Select Energy Services from $21.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 13th. B. Riley set a $22.00 price objective on Select Energy Services and gave the company a “buy” rating in a research note on Monday, August 13th. ValuEngine cut Select Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Select Energy Services in a research note on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $18.08.

The company has a quick ratio of 2.27, a current ratio of 2.51 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $958.02 million, a price-to-earnings ratio of 11.45 and a beta of 2.22.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Tuesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. Select Energy Services had a return on equity of 4.95% and a net margin of 2.80%. The business had revenue of $396.97 million for the quarter, compared to analyst estimates of $406.52 million. During the same quarter last year, the company earned $0.04 EPS. The business’s quarterly revenue was up 158.0% on a year-over-year basis. Research analysts anticipate that Select Energy Services Inc will post 0.88 earnings per share for the current year.

In other news, CAO Gary Gillette sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $10.62, for a total transaction of $212,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.29% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. BlackRock Inc. raised its position in shares of Select Energy Services by 84.5% during the 2nd quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock worth $44,746,000 after acquiring an additional 1,410,240 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Select Energy Services by 176.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,150,123 shares of the company’s stock worth $13,617,000 after acquiring an additional 733,428 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Select Energy Services by 20.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock worth $55,390,000 after acquiring an additional 659,270 shares in the last quarter. American Financial Group Inc. raised its position in shares of Select Energy Services by 61.8% during the 2nd quarter. American Financial Group Inc. now owns 1,413,948 shares of the company’s stock worth $20,544,000 after acquiring an additional 540,140 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Select Energy Services by 25.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,443,949 shares of the company’s stock worth $28,936,000 after acquiring an additional 493,803 shares in the last quarter. 56.48% of the stock is currently owned by institutional investors and hedge funds.

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Select Energy Services Company Profile (NYSE:WTTR)

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.

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