ELCO Management Co. LLC lifted its stake in Select Energy Services Inc (NYSE:WTTR) by 49.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,923 shares of the company’s stock after purchasing an additional 7,554 shares during the period. ELCO Management Co. LLC’s holdings in Select Energy Services were worth $266,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in Select Energy Services by 19.4% in the 4th quarter. Legal & General Group Plc now owns 8,152 shares of the company’s stock worth $51,000 after buying an additional 1,326 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Select Energy Services by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,515 shares of the company’s stock worth $98,000 after buying an additional 12,117 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Select Energy Services by 579.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,617 shares of the company’s stock worth $116,000 after buying an additional 8,202 shares during the period. Bank of Montreal Can boosted its holdings in Select Energy Services by 2,021.4% in the 1st quarter. Bank of Montreal Can now owns 13,513 shares of the company’s stock worth $163,000 after buying an additional 12,876 shares during the period. Finally, B. Riley Wealth Management Inc. bought a new position in Select Energy Services in the 1st quarter worth $199,000. Hedge funds and other institutional investors own 56.94% of the company’s stock.
Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $10.00 target price on shares of Select Energy Services in a report on Thursday, August 8th. B. Riley set a $19.00 target price on shares of Select Energy Services and gave the stock a “buy” rating in a report on Monday, May 20th. Wells Fargo & Co downgraded shares of Select Energy Services from an “outperform” rating to a “market perform” rating and set a $13.00 target price for the company. in a report on Thursday, June 27th. Zacks Investment Research reaffirmed a “buy” rating and issued a $13.00 target price on shares of Select Energy Services in a report on Saturday, May 11th. Finally, TheStreet raised shares of Select Energy Services from a “d+” rating to a “c-” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.89.
Shares of WTTR traded down $0.04 during midday trading on Thursday, hitting $8.01. 3,967 shares of the company traded hands, compared to its average volume of 398,012. The firm has a 50 day simple moving average of $10.04. Select Energy Services Inc has a 52 week low of $6.05 and a 52 week high of $13.91. The stock has a market cap of $832.10 million, a PE ratio of 9.13 and a beta of 2.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.32 and a current ratio of 2.56.
Select Energy Services (NYSE:WTTR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). Select Energy Services had a net margin of 1.16% and a return on equity of 5.12%. The company had revenue of $323.90 million for the quarter, compared to the consensus estimate of $357.28 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. On average, equities analysts anticipate that Select Energy Services Inc will post 0.59 EPS for the current year.
About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural 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 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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