Select Energy Services (NYSE:WTTR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Select Energy Services (NYSE:WTTRGet Rating) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. The brokerage currently has $8.75 price objective on the stock.

According to Zacks, “Select Energy Services, Inc. is a provider of water solutions to the U.S. unconventional oil and gas industry. It offers drilling and completion activities associated with hydraulic fracturing as well as complementary water-related services which support oil and gas well completion and production activities including containment, monitoring, treatment, flowback, hauling and disposal. Select Energy Services, Inc. is headquartered in Gainesville, Texas. “

Separately, Piper Sandler increased their price objective on shares of Select Energy Services from $8.25 to $11.00 and gave the company a neutral rating in a report on Monday, March 7th.

WTTR opened at $8.48 on Friday. Select Energy Services has a one year low of $4.88 and a one year high of $10.43. The company’s 50 day simple moving average is $8.33 and its 200-day simple moving average is $7.44. The stock has a market capitalization of $969.54 million, a P/E ratio of -53.00 and a beta of 2.35.

Select Energy Services (NYSE:WTTRGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Select Energy Services had a negative net margin of 1.35% and a negative return on equity of 5.29%. The company had revenue of $255.13 million for the quarter, compared to the consensus estimate of $230.07 million. As a group, sell-side analysts anticipate that Select Energy Services will post 0.25 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey Wright & Associates acquired a new stake in Select Energy Services in the first quarter worth $39,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Select Energy Services during the first quarter worth $102,000. Teacher Retirement System of Texas acquired a new stake in shares of Select Energy Services during the fourth quarter worth $78,000. Aigen Investment Management LP acquired a new stake in shares of Select Energy Services during the first quarter worth $111,000. Finally, ProShare Advisors LLC bought a new position in Select Energy Services in the fourth quarter valued at $84,000. Institutional investors own 63.30% of the company’s stock.

About Select Energy Services (Get Rating)

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and gas industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Oilfield Chemicals. The Water Services segment provides water-related services, including water transfer, flow back and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various on-site rental equipment and workforce accommodation services.

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