Stephens started coverage on shares of Select Energy Services (NYSE:WTTR) in a research note published on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $16.00 price objective on the stock.
A number of other research analysts also recently commented on the company. Citigroup upgraded Select Energy Services from a sell rating to a neutral rating and set a $17.00 target price for the company in a research report on Tuesday, February 13th. B. Riley set a $24.00 target price on Select Energy Services and gave the company a buy rating in a research report on Wednesday, March 7th. Piper Jaffray reiterated a buy rating and set a $18.00 target price on shares of Select Energy Services in a research report on Thursday, March 15th. Zacks Investment Research downgraded Select Energy Services from a buy rating to a sell rating in a research report on Wednesday, March 14th. Finally, ValuEngine downgraded Select Energy Services from a hold rating to a sell rating in a research report on Friday, February 2nd. 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. Select Energy Services currently has an average rating of Hold and an average price target of $18.80.
Shares of WTTR opened at $13.78 on Thursday. The company has a quick ratio of 2.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.09. Select Energy Services has a 1 year low of $11.22 and a 1 year high of $21.96. The company has a market cap of $1,427.11 and a price-to-earnings ratio of 17.23.
In related news, Director Richard Alan Burnett purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average cost of $14.14 per share, for a total transaction of $35,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Holli C. Ladhani purchased 29,388 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was bought at an average price of $13.87 per share, with a total value of $407,611.56. The disclosure for this purchase can be found here. 8.29% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new stake in Select Energy Services in the fourth quarter worth $255,000. Metropolitan Life Insurance Co. NY bought a new stake in Select Energy Services in the fourth quarter worth $176,000. PEAK6 Investments L.P. bought a new stake in Select Energy Services in the fourth quarter worth $1,081,000. Nokomis Capital L.L.C. bought a new stake in Select Energy Services in the fourth quarter worth $12,134,000. Finally, Millennium Management LLC bought a new stake in Select Energy Services in the fourth quarter worth $4,022,000. Institutional investors own 43.03% of the company’s stock.
About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water solutions to the United States unconventional oil and gas industry. The company operates through three segments: Water Solutions, Accommodations and Rentals, and Wellsite Completion and Construction Services. The Water Solutions segment provides water solutions, 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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