Select Energy Services Inc (NYSE:WTTR) – Research analysts at Piper Jaffray Companies cut their Q3 2018 EPS estimates for Select Energy Services in a research note issued on Monday, August 13th. Piper Jaffray Companies analyst I. Macpherson now anticipates that the company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.35. Piper Jaffray Companies has a “Buy” rating on the stock. Piper Jaffray Companies also issued estimates for Select Energy Services’ Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $0.96 EPS, Q1 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.33 EPS, FY2019 earnings at $1.14 EPS and FY2020 earnings at $1.45 EPS.

Select Energy Services (NYSE:WTTR) last announced its earnings results on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $393.20 million for the quarter, compared to analyst estimates of $403.45 million. Select Energy Services had a net margin of 1.58% and a return on equity of 3.78%. The company’s revenue for the quarter was up 192.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) EPS.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Select Energy Services from a “strong-buy” rating to a “hold” rating in a research note on Saturday, June 2nd. B. Riley reaffirmed a “buy” rating on shares of Select Energy Services in a research note on Tuesday, May 22nd. Royal Bank of Canada initiated coverage on shares of Select Energy Services in a research report on Monday, June 4th. They set an “outperform” rating and a $20.00 price target for the company. ValuEngine cut shares of Select Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Finally, Citigroup lifted their price target on shares of Select Energy Services from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.86.

Shares of WTTR opened at $12.95 on Thursday. The stock has a market cap of $1.57 billion, a PE ratio of 16.06 and a beta of 2.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.17 and a current ratio of 2.39. Select Energy Services has a 1-year low of $11.50 and a 1-year high of $21.96.

In related news, insider Gary Gillette sold 12,883 shares of Select Energy Services stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $13.45, for a total transaction of $173,276.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nick L. Swyka purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average cost of $13.64 per share, with a total value of $34,100.00. The disclosure for this purchase can be found here. Company insiders own 8.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of WTTR. Metropolitan Life Insurance Co. NY purchased a new position in Select Energy Services in the fourth quarter worth about $176,000. Salzhauer Michael purchased a new position in Select Energy Services in the first quarter worth about $126,000. Koch Industries Inc. purchased a new position in Select Energy Services in the first quarter worth about $127,000. Parkwood LLC purchased a new position in Select Energy Services in the second quarter worth about $149,000. Finally, Alliancebernstein L.P. purchased a new position in Select Energy Services in the fourth quarter worth about $201,000. 45.49% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Select Energy Services (NYSE:WTTR)

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