B. Riley Reiterates “$22.00” Price Target for Select Energy Services (WTTR)

B. Riley set a $22.00 price target on Select Energy Services (NYSE:WTTR) in a research note published on Tuesday. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Select Energy Services from a hold rating to a strong sell rating in a research report on Wednesday, October 17th. Wells Fargo & Co set a $14.00 price objective on Select Energy Services and gave the stock a buy rating in a research report on Monday, October 15th. Johnson Rice started coverage on Select Energy Services in a research report on Friday, October 5th. They issued an accumulate rating and a $16.00 price objective on the stock. TheStreet downgraded Select Energy Services from a c- rating to a d+ rating in a research report on Tuesday, September 25th. Finally, JPMorgan Chase & Co. lowered their price target on Select Energy Services from $17.00 to $14.00 and set a neutral rating on the stock in a research report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $18.00.

Shares of WTTR stock opened at $10.55 on Tuesday. 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 52-week low of $9.11 and a 52-week high of $21.96. The firm has a market capitalization of $1.07 billion, a P/E ratio of 13.19 and a beta of 2.21.

Select Energy Services (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Select Energy Services had a return on equity of 5.02% and a net margin of 2.80%. The company had revenue of $396.97 million for the quarter, compared to the consensus estimate of $406.52 million. During the same quarter last year, the business posted $0.04 earnings per share. The firm’s revenue was up 158.0% compared to the same quarter last year. On average, analysts predict that Select Energy Services will post 0.91 EPS for the current year.

In other news, CFO Nick L. Swyka purchased 2,500 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings 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 worth $21,068,000 after buying an additional 452,595 shares during the period. Royal Bank of Canada increased its holdings in shares of Select Energy Services by 1.0% in the first quarter. Royal Bank of Canada now owns 535,399 shares of the company’s stock worth $6,757,000 after buying an additional 5,351 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Select Energy Services in the first quarter worth about $282,000. Principal Financial Group Inc. increased its holdings in shares of Select Energy Services by 1.0% in the first quarter. Principal Financial Group Inc. now owns 454,319 shares of the company’s stock worth $5,734,000 after buying an additional 4,423 shares during the period. Finally, Adams Asset Advisors LLC purchased a new position in shares of Select Energy Services in the second quarter worth about $5,945,000. Institutional investors and hedge funds 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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