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 report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $9.00 target price 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 target price on Select Energy Services from $8.25 to $11.00 and gave the stock a neutral rating in a research report on Monday, March 7th.

Shares of NYSE WTTR traded up $0.03 during midday trading on Thursday, hitting $8.20. The stock had a trading volume of 2,951 shares, compared to its average volume of 351,386. Select Energy Services has a 1-year low of $4.88 and a 1-year high of $10.43. The company has a fifty day moving average price of $8.62 and a 200 day moving average price of $7.31.

Select Energy Services (NYSE:WTTRGet Rating) last announced its earnings results on Tuesday, February 22nd. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Select Energy Services had a negative net margin of 1.35% and a negative return on equity of 5.39%. The business had revenue of $255.13 million during the quarter, compared to analyst estimates of $230.07 million. On average, equities research analysts expect that Select Energy Services will post 0.2 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of WTTR. Gitterman Wealth Management LLC acquired a new stake in shares of Select Energy Services during the 3rd quarter worth approximately $59,000. Allspring Global Investments Holdings LLC bought a new position in Select Energy Services in the 4th quarter valued at $95,000. Metropolitan Life Insurance Co NY increased its stake in shares of Select Energy Services by 66.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,201 shares of the company’s stock valued at $74,000 after buying an additional 5,675 shares during the period. Credit Suisse AG increased its stake in shares of Select Energy Services by 20.9% in the 3rd quarter. Credit Suisse AG now owns 44,713 shares of the company’s stock valued at $232,000 after buying an additional 7,718 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Select Energy Services by 74.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,616,799 shares of the company’s stock valued at $13,581,000 after buying an additional 1,113,999 shares during the period. 63.30% of the stock is owned by institutional investors.

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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