Zacks Investment Research downgraded shares of Select Energy Services Inc (NASDAQ:WTTR) from a hold rating to a sell rating in a research note released on Friday morning.

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. “

Several other research firms have also commented on WTTR. Piper Jaffray Companies started coverage on Select Energy Services in a research note on Tuesday, May 16th. They issued an overweight rating and a $21.00 target price for the company. J P Morgan Chase & Co started coverage on Select Energy Services in a research note on Tuesday, May 16th. They issued a neutral rating and a $16.00 target price for the company. Wells Fargo & Company started coverage on Select Energy Services in a research note on Friday, May 19th. They issued an outperform rating and a $20.00 target price for the company. Credit Suisse Group started coverage on Select Energy Services in a research note on Tuesday, May 16th. They issued an outperform rating and a $20.00 target price for the company. Finally, Citigroup Inc. started coverage on Select Energy Services in a research note on Tuesday, May 16th. They issued a buy rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $19.71.

Select Energy Services (NASDAQ WTTR) opened at 15.53 on Friday. The stock’s market capitalization is $468.73 million. Select Energy Services has a 12-month low of $11.22 and a 12-month high of $15.95. The stock’s 50 day moving average price is $13.02 and its 200-day moving average price is $13.02.

Select Energy Services (NASDAQ:WTTR) last released its earnings results on Wednesday, May 17th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The business had revenue of $99.90 million during the quarter, compared to analyst estimates of $100.17 million. Select Energy Services had a negative net margin of 12.29% and a negative return on equity of 14.94%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts expect that Select Energy Services will post ($0.01) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in WTTR. Hodges Capital Management Inc. purchased a new stake in Select Energy Services during the second quarter worth about $7,285,000. Spark Investment Management LLC purchased a new stake in Select Energy Services during the second quarter worth about $1,545,000. Russell Investments Group Ltd. purchased a new stake in Select Energy Services during the second quarter worth about $613,000. Finally, Skylands Capital LLC purchased a new stake in Select Energy Services during the second quarter worth about $531,000.

Select Energy Services Company Profile

Select Energy Services, Inc is a holding company. The Company is provider of total water solutions to the United States unconventional oil and gas industry. The Company is engaged in sourcing and transfer of water prior to its use in drilling and completion activities associated with hydraulic fracturing or fracking, which collectively referrd to as pre-frac water services.

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Analyst Recommendations for Select Energy Services (NASDAQ:WTTR)

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