Select Energy Services Inc (NYSE:WTTR) Forecasted to Post Q2 2020 Earnings of ($0.33) Per Share
Select Energy Services Inc (NYSE:WTTR) – Equities researchers at Piper Sandler increased their Q2 2020 EPS estimates for shares of Select Energy Services in a research report issued on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings of ($0.33) per share for the quarter, up from their previous forecast of ($0.38). Piper Sandler currently has a “Neutral” rating and a $3.50 target price on the stock. Piper Sandler also issued estimates for Select Energy Services’ Q3 2020 earnings at ($0.28) EPS, Q4 2020 earnings at ($0.26) EPS, Q1 2021 earnings at ($0.20) EPS, Q2 2021 earnings at ($0.17) EPS, Q3 2021 earnings at ($0.14) EPS, Q4 2021 earnings at ($0.17) EPS and FY2021 earnings at ($0.68) EPS.
Other analysts also recently issued reports about the company. Citigroup cut their target price on Select Energy Services from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. ValuEngine upgraded Select Energy Services from a “hold” rating to a “buy” rating in a report on Tuesday, June 9th. Zacks Investment Research reiterated a “hold” rating on shares of Select Energy Services in a report on Saturday, June 13th. Stephens cut Select Energy Services to a “hold” rating and set a $3.00 price target for the company. in a report on Friday, March 20th. Finally, B. Riley lowered their price target on Select Energy Services from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, May 8th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Select Energy Services has a consensus rating of “Hold” and an average target price of $5.91.
Select Energy Services (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.47. Select Energy Services had a positive return on equity of 3.82% and a negative net margin of 20.23%. The business had revenue of $278.29 million during the quarter, compared to the consensus estimate of $278.70 million.
In other news, CEO Holli C. Ladhani bought 14,524 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was bought at an average cost of $3.44 per share, for a total transaction of $49,962.56. Following the acquisition, the chief executive officer now directly owns 542,721 shares of the company’s stock, valued at approximately $1,866,960.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.56% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Select Energy Services by 30.5% in the 1st quarter. Invesco Ltd. now owns 319,425 shares of the company’s stock valued at $1,031,000 after buying an additional 74,590 shares during the period. Ranger Investment Management L.P. boosted its stake in shares of Select Energy Services by 26.3% in the 1st quarter. Ranger Investment Management L.P. now owns 2,525,406 shares of the company’s stock valued at $8,157,000 after buying an additional 525,520 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Select Energy Services by 17.3% in the 1st quarter. Two Sigma Advisers LP now owns 37,900 shares of the company’s stock valued at $122,000 after buying an additional 5,600 shares during the period. Arosa Capital Management LP boosted its stake in shares of Select Energy Services by 123.9% in the 1st quarter. Arosa Capital Management LP now owns 363,455 shares of the company’s stock valued at $1,174,000 after buying an additional 201,151 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Select Energy Services by 9.3% in the 1st quarter. Geode Capital Management LLC now owns 893,680 shares of the company’s stock valued at $2,886,000 after buying an additional 76,404 shares during the period. Institutional investors and hedge funds own 62.77% 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 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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