Select Energy Services Inc’s (WTTR) Lock-Up Period Will End on October 18th
Select Energy Services’ (NASDAQ:WTTR) lock-up period will end on Wednesday, October 18th. Select Energy Services had issued 8,700,000 shares in its IPO on April 21st. The total size of the offering was $121,800,000 based on an initial share price of $14.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
Several equities research analysts have commented on WTTR shares. BidaskClub downgraded Select Energy Services from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Zacks Investment Research downgraded Select Energy Services from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co dropped their target price on Select Energy Services from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. FBR & Co reissued a “buy” rating on shares of Select Energy Services in a report on Friday, September 8th. Finally, Citigroup Inc. set a $18.00 target price on Select Energy Services and gave the stock a “buy” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Select Energy Services currently has an average rating of “Hold” and a consensus target price of $18.86.
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Select Energy Services (NASDAQ:WTTR) opened at 15.27 on Wednesday. The company has a market capitalization of $462.85 million and a P/E ratio of 0.94. Select Energy Services has a one year low of $11.22 and a one year high of $17.25. The stock’s 50 day moving average price is $15.21 and its 200-day moving average price is $14.40.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Crestview Partners II GP L.P. acquired a new stake in Select Energy Services during the 2nd quarter worth about $46,206,000. Bank of New York Mellon Corp acquired a new stake in Select Energy Services during the 2nd quarter worth about $7,987,000. Royal Bank of Canada acquired a new stake in Select Energy Services during the 2nd quarter worth about $7,526,000. Teacher Retirement System of Texas acquired a new stake in Select Energy Services during the 2nd quarter worth about $7,290,000. Finally, Hodges Capital Management Inc. acquired a new stake in Select Energy Services during the 2nd quarter worth about $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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