Select Energy Services Inc (NASDAQ:WTTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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 analysts have also recently weighed in on WTTR. J P Morgan Chase & Co decreased their price target on shares of Select Energy Services from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday. FBR & Co reissued a “buy” rating on shares of Select Energy Services in a research note on Friday, September 8th. 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 on the stock. Finally, Citigroup Inc. set a $18.00 target price on Select Energy Services and gave the company a “buy” rating in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.29.

Select Energy Services (NASDAQ:WTTR) opened at 15.525 on Friday. Select Energy Services has a 52 week low of $11.22 and a 52 week high of $16.05. The company has a market cap of $470.58 million and a price-to-earnings ratio of 0.958. The stock has a 50 day moving average price of $14.76 and a 200 day moving average price of $13.96.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTTR. Crestview Partners II GP L.P. bought a new position in Select Energy Services in the second quarter valued at $46,206,000. Bank of New York Mellon Corp bought a new position in Select Energy Services in the second quarter valued at $7,987,000. Royal Bank of Canada bought a new position in Select Energy Services in the second quarter valued at $7,526,000. Teacher Retirement System of Texas bought a new position in Select Energy Services in the second quarter valued at $7,290,000. Finally, Hodges Capital Management Inc. bought a new position in Select Energy Services in the second quarter valued at $7,285,000.

About Select Energy Services

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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