Select Energy Services Inc (NASDAQ:WTTR) Downgraded by Zacks Investment Research

Select Energy Services Inc (NASDAQ:WTTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, July 28th.

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 also recently issued reports about the stock. FBR & Co assumed coverage on shares of Select Energy Services in a research report on Tuesday, May 16th. They set an “outperform” rating and a $23.00 price objective for the company. Citigroup Inc. set a $18.00 price objective on shares of Select Energy Services and gave the company a “buy” rating in a research report on Friday, July 21st. J P Morgan Chase & Co assumed coverage on shares of Select Energy Services in a research report on Tuesday, May 16th. They set a “neutral” rating and a $16.00 price objective for the company. Bank of America Corporation assumed coverage on shares of Select Energy Services in a research report on Tuesday, May 16th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Piper Jaffray Companies assumed coverage on shares of Select Energy Services in a research report on Tuesday, May 16th. They set an “overweight” rating and a $21.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Select Energy Services presently has an average rating of “Buy” and a consensus price target of $19.71.

Shares of Select Energy Services (NASDAQ:WTTR) opened at 14.24 on Friday. Select Energy Services has a 12-month low of $11.22 and a 12-month high of $16.60. The firm has a market capitalization of $431.63 million and a PE ratio of 0.88. The company’s 50-day moving average price is $13.76 and its 200-day moving average price is $13.67.

Select Energy Services (NASDAQ:WTTR) last announced its quarterly earnings data on Wednesday, May 17th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.06. Select Energy Services had a negative net margin of 7.80% and a negative return on equity of 11.02%. The firm had revenue of $99.90 million for the quarter, compared to analyst estimates of $100.17 million. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that Select Energy Services will post $0.04 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in WTTR. New York State Common Retirement Fund bought a new position in shares of Select Energy Services during the second quarter valued at about $102,000. Alliancebernstein L.P. bought a new position in shares of Select Energy Services during the second quarter valued at about $141,000. Schwab Charles Investment Management Inc. bought a new position in shares of Select Energy Services during the second quarter valued at about $192,000. Cubist Systematic Strategies LLC bought a new position in shares of Select Energy Services during the second quarter valued at about $272,000. Finally, Laurion Capital Management LP bought a new position in shares of Select Energy Services during the second quarter valued at about $304,000.

Select Energy Services Company Profile

Select Energy Services, Inc is a holding company. The Company is provider of total water solutions to the United States unconventional oil and gas industry. The Company is engaged in sourcing and transfer of water prior to its use in drilling and completion activities associated with hydraulic fracturing or fracking, which collectively referrd to as pre-frac water services.

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