Select Energy Services (WTTR) Price Target Cut to $14.00

Select Energy Services (NYSE:WTTR) had its price target reduced by equities research analysts at Citigroup from $15.50 to $14.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 14.29% from the stock’s previous close.

A number of other brokerages have also recently issued reports on WTTR. B. Riley restated a “buy” rating on shares of Select Energy Services in a report on Tuesday, May 22nd. Zacks Investment Research upgraded Select Energy Services from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Wednesday, August 1st. Piper Jaffray Companies restated a “buy” rating on shares of Select Energy Services in a report on Thursday, August 16th. ValuEngine cut Select Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, Seaport Global Securities reiterated a “buy” rating and set a $27.00 price objective on shares of Select Energy Services in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.30.

Shares of WTTR opened at $12.25 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.16 and a debt-to-equity ratio of 0.09. Select Energy Services has a 1 year low of $11.50 and a 1 year high of $21.96. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 15.31 and a beta of 2.06.

Select Energy Services (NYSE:WTTR) last issued its earnings results on Thursday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Select Energy Services had a return on equity of 3.53% and a net margin of 1.58%. The firm had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $403.45 million. During the same quarter last year, the business earned ($0.16) earnings per share. The company’s revenue was up 192.6% compared to the same quarter last year. equities analysts predict that Select Energy Services will post 0.91 earnings per share for the current year.

In other Select Energy Services news, CFO Nick L. Swyka acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $13.64 per share, for a total transaction of $34,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.29% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Select Energy Services by 20.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock valued at $55,390,000 after buying an additional 659,270 shares during the last quarter. BlackRock Inc. raised its position in Select Energy Services by 84.5% in the 2nd quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock valued at $44,746,000 after buying an additional 1,410,240 shares during the last quarter. American Financial Group Inc. raised its position in Select Energy Services by 61.8% in the 2nd quarter. American Financial Group Inc. now owns 1,413,948 shares of the company’s stock valued at $20,544,000 after buying an additional 540,140 shares during the last quarter. Arosa Capital Management LP raised its position in Select Energy Services by 169.5% in the 1st quarter. Arosa Capital Management LP now owns 1,175,141 shares of the company’s stock valued at $14,830,000 after buying an additional 739,141 shares during the last quarter. Finally, Luminus Management LLC raised its position in Select Energy Services by 20.6% in the 2nd quarter. Luminus Management LLC now owns 1,136,532 shares of the company’s stock valued at $16,514,000 after buying an additional 193,836 shares during the last quarter. Institutional investors and hedge funds own 52.37% 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.

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