Select Energy Services (NYSE: WTTR – Get a rating) was downgraded by Zacks Investment Research from a “buy” to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports. They currently have a price target of $9.00 on the stock. Zacks Investment ResearchThe target price of suggests a potential upside of 16.58% from the current stock price.
According to Zacks, “Select Energy Services, Inc. is a provider of water supply solutions to the US unconventional oil and gas industry. It offers drilling and completion activities associated with hydraulic fracturing as well as complementary water-related services that support oil and gas well completion and production activities, including containment, monitoring, treatment , reflux, transport and elimination. Select Energy Services, Inc. is headquartered in Gainesville, Texas. “
Separately, Piper Sandler raised its target price on shares of Select Energy Services from $8.25 to $11.00 and gave the company a “neutral” rating in a Monday, March 7 research note.
Select the Energy Services action traded down $0.08 in midday trading on Thursday, hitting $7.72. 3,466 shares of the company have been traded, compared to its average volume of 423,211. The company has a market capitalization of $882.63 million, a price-earnings ratio of -48.06 and a beta of 2, 35. The stock has a 50-day moving average of $8.35 and a two-hundred-day moving average of $7.39. Select Energy Services has a 12 month minimum of $4.88 and a 12 month maximum of $10.43.
Select Energy Services (NYSE: WTTR – Get a rating) last announced its results on Tuesday, February 22. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Select Energy Services posted a negative net margin of 1.35% and a negative return on equity of 5.29%. The company posted revenue of $255.13 million in the quarter, compared to $230.07 million expected by analysts. As a group, sell-side analysts expect Select Energy Services to post 0.2 earnings per share for the current year.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. First Trust Advisors LP increased its stake in Select Energy Services by 148.0% during the first quarter. First Trust Advisors LP now owns 335,367 shares of the company worth $4,031,000 after acquiring an additional 200,158 shares last quarter. Morgan Stanley increased its position in shares of Select Energy Services by 40.2% during the second quarter. Morgan Stanley now owns 309,811 shares of the company valued at $1,872,000 after buying an additional 88,899 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Select Energy Services by 252.6% during the third quarter. SG Americas Securities LLC now owns 48,172 shares of the company valued at $250,000 after purchasing an additional 34,509 shares in the last quarter. Barclays PLC increased its position in shares of Select Energy Services by 218.8% during the third quarter. Barclays PLC now owns 25,211 shares in the company valued at $130,000 after buying a further 17,302 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Select Energy Services by 84.0% during the third quarter. Goldman Sachs Group Inc. now owns 613,434 shares of the company valued at $3,184,000 after purchasing an additional 279,959 shares in the last quarter. Hedge funds and other institutional investors own 63.30% of the company’s shares.
About Select Energy Services (Get a rating)
Select Energy Services, Inc, an oilfield services company, provides water and chemical management solutions to the onshore oil and gas industry in the United States. The Company operates through three segments: Water Utilities, Water Infrastructure and Oilfield Chemicals. The Water Services segment provides water-related services, including water transfer, ebb and well testing, water containment, fluid transportation, water monitoring and automation water networks; technology solutions including hydrographic mapping, water volume and quality monitoring, remote monitoring of pits and reservoirs, leak detection, asset and fuel tracking and automated equipment services, as well as various on-site rental equipment and workforce accommodation services.
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