Select Energy Services (NYSE:WTTR) PT Raised to $8.00 at Citigroup

Select Energy Services (NYSE:WTTR – Get Rating) had its target price hoisted by Citigroup from $6.50 to $8.00 in a report issued on Thursday, The Fly reports. Citigroup’s price target would suggest a potential upside of 5.96% from the company’s current price.

A number of other analysts have also weighed in on the stock. TheStreet upgraded shares of Select Energy Services from a “c” rating to a “b” rating in a research note on Wednesday, May 3rd. Raymond James started coverage on shares of Select Energy Services in a report on Wednesday, March 22nd. They issued a “strong-buy” rating and a $12.00 price objective on the stock.

Select Energy Services Stock Performance

Shares of WTTR stock opened at $7.55 on Thursday. The firm’s 50 day moving average is $7.05 and its 200 day moving average is $7.94. The company has a current ratio of 2.44, a quick ratio of 2.27 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $919.51 million, a P/E ratio of 13.98 and a beta of 1.97. Select Energy Services has a 12 month low of $5.51 and a 12 month high of $9.84.

Select Energy Services (NYSE:WTTR – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.16). Select Energy Services had a net margin of 3.57% and a return on equity of 6.57%. The firm had revenue of $381.68 million for the quarter, compared to analysts’ expectations of $387.89 million. On average, sell-side analysts anticipate that Select Energy Services will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Select Energy Services

Hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC purchased a new position in shares of Select Energy Services during the 1st quarter worth $338,000. JPMorgan Chase & Co. boosted its holdings in Select Energy Services by 122.4% in the first quarter. JPMorgan Chase & Co. now owns 1,054,520 shares of the company’s stock valued at $7,340,000 after purchasing an additional 580,458 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Select Energy Services by 6.5% in the first quarter. New York State Common Retirement Fund now owns 102,161 shares of the company’s stock valued at $711,000 after acquiring an additional 6,248 shares during the period. KB Financial Partners LLC acquired a new stake in shares of Select Energy Services in the first quarter valued at approximately $310,000. Finally, Meros Investment Management LP boosted its holdings in shares of Select Energy Services by 69.8% in the first quarter. Meros Investment Management LP now owns 477,860 shares of the company’s stock valued at $3,326,000 after acquiring an additional 196,448 shares during the period. Hedge funds and other institutional investors own 58.35% of the company’s stock.

Select Energy Services Company Profile

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Select Energy Services Inc engages in the provision of water management and chemical solutions. It operates through the following business segments: Water Services, Oilfield Chemicals, and Water Infrastructure. The Water Services segment consists of services businesses, including water transfer, flowback and well testing, fluids hauling, water containment and water network automation, primarily serving E&P companies.