B. Riley Reiterates Buy Rating for Select Energy Services (WTTR)

Select Energy Services (NYSE:WTTR)‘s stock had its “buy” rating reissued by analysts at B. Riley in a report issued on Tuesday.

Several other research firms have also commented on WTTR. Seaport Global Securities reaffirmed a “buy” rating on shares of Select Energy Services in a report on Thursday, April 19th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 target price on shares of Select Energy Services in a report on Thursday, March 15th. ValuEngine raised Select Energy Services from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Citigroup raised Select Energy Services from a “sell” rating to a “neutral” rating and set a $17.00 target price on the stock in a report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded Select Energy Services from a “buy” rating to a “sell” rating in a research report on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Select Energy Services currently has an average rating of “Hold” and a consensus price target of $18.67.

Select Energy Services opened at $16.48 on Tuesday, MarketBeat Ratings reports. The stock has a market cap of $1.81 billion and a P/E ratio of 20.60. Select Energy Services has a 52 week low of $11.22 and a 52 week high of $21.96. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.09.

Select Energy Services (NYSE:WTTR) last posted its earnings results on Thursday, May 10th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. The firm had revenue of $376.40 million for the quarter, compared to analyst estimates of $376.65 million. Select Energy Services had a positive return on equity of 2.59% and a negative net margin of 0.18%. Select Energy Services’s revenue for the quarter was up 276.7% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. research analysts anticipate that Select Energy Services will post 0.9 earnings per share for the current fiscal year.

In other Select Energy Services news, Director Richard Alan Burnett purchased 2,500 shares of the stock in a transaction on Tuesday, March 13th. The shares were bought at an average price of $14.14 per share, for a total transaction of $35,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Holli C. Ladhani purchased 29,388 shares of the stock in a transaction on Wednesday, March 14th. The shares were acquired at an average price of $13.87 per share, for a total transaction of $407,611.56. The disclosure for this purchase can be found here. Corporate insiders own 8.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simmons L E & Associates Inc. purchased a new position in shares of Select Energy Services in the fourth quarter valued at approximately $295,330,000. Bank of New York Mellon Corp lifted its position in shares of Select Energy Services by 20.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,326,340 shares of the company’s stock valued at $42,433,000 after acquiring an additional 390,117 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Select Energy Services by 0.5% in the fourth quarter. Teacher Retirement System of Texas now owns 2,042,106 shares of the company’s stock valued at $37,248,000 after acquiring an additional 9,706 shares in the last quarter. BlackRock Inc. lifted its position in shares of Select Energy Services by 37.2% in the first quarter. BlackRock Inc. now owns 1,669,372 shares of the company’s stock valued at $21,068,000 after acquiring an additional 452,595 shares in the last quarter. Finally, Arosa Capital Management LP lifted its position in shares of Select Energy Services by 169.5% in the first quarter. Arosa Capital Management LP now owns 1,175,141 shares of the company’s stock valued at $14,830,000 after acquiring an additional 739,141 shares in the last quarter. Institutional investors and hedge funds own 44.01% 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 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.

Analyst Recommendations for Select Energy Services (NYSE:WTTR)

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