A number of other equities analysts also recently weighed in on the company. Johnson Rice initiated coverage on Select Energy Services in a report on Friday, October 5th. They issued an accumulate rating and a $16.00 target price on the stock. ValuEngine downgraded Select Energy Services from a hold rating to a sell rating in a report on Tuesday, August 14th. JPMorgan Chase & Co. dropped their target price on Select Energy Services from $17.00 to $14.00 and set a neutral rating on the stock in a report on Monday, September 17th. Citigroup dropped their target price on Select Energy Services from $15.50 to $14.00 and set a neutral rating on the stock in a report on Friday, September 14th. Finally, B. Riley set a $22.00 target price on Select Energy Services and gave the company a buy rating in a report on Sunday, October 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Select Energy Services presently has an average rating of Hold and a consensus price target of $18.00.
Shares of WTTR traded down $0.38 during trading hours on Friday, reaching $10.55. The company’s stock had a trading volume of 452,745 shares, compared to its average volume of 582,913. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 14.61 and a beta of 2.21. Select Energy Services has a 1-year low of $9.11 and a 1-year high of $21.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.40 and a quick ratio of 2.16.
In other news, CFO Nick L. Swyka acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average price of $13.64 per share, for a total transaction of $34,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.29% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in WTTR. BlackRock Inc. boosted its position in Select Energy Services by 84.5% during the second quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock worth $44,746,000 after purchasing an additional 1,410,240 shares during the period. Hillman Co. bought a new stake in Select Energy Services during the second quarter worth approximately $10,061,000. Bank of New York Mellon Corp boosted its position in Select Energy Services by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock worth $55,390,000 after purchasing an additional 659,270 shares during the period. American Financial Group Inc. boosted its position in Select Energy Services by 61.8% during the second quarter. American Financial Group Inc. now owns 1,413,948 shares of the company’s stock worth $20,544,000 after purchasing an additional 540,140 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Select Energy Services during the second quarter worth approximately $6,905,000. Hedge funds and other institutional investors own 52.45% 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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