Select Energy Services Inc (NYSE:WTTR) – Investment analysts at B. Riley reduced their Q1 2018 earnings per share estimates for Select Energy Services in a report released on Monday. B. Riley analyst T. Curran now expects that the company will earn $0.06 per share for the quarter, down from their previous estimate of $0.10. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. B. Riley also issued estimates for Select Energy Services’ Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.32 EPS, FY2018 earnings at $0.86 EPS and FY2019 earnings at $1.11 EPS.
Several other brokerages have also issued reports on WTTR. Zacks Investment Research raised shares of Select Energy Services from a “sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a report on Wednesday, November 15th. Wells Fargo & Co reissued an “outperform” rating and set a $20.00 price objective on shares of Select Energy Services in a report on Tuesday, November 28th. Bank of America reissued a “buy” rating and set a $20.00 price objective on shares of Select Energy Services in a report on Friday, December 8th. Citigroup raised shares of Select Energy Services from a “sell” rating to a “neutral” rating and set a $17.00 price objective on the stock in a report on Tuesday, February 13th. Finally, ValuEngine lowered shares of Select Energy Services from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTTR. New York State Common Retirement Fund purchased a new position in Select Energy Services in the second quarter worth $102,000. First Dallas Securities Inc. purchased a new position in Select Energy Services in the fourth quarter worth $136,000. Strs Ohio grew its holdings in Select Energy Services by 185.2% in the fourth quarter. Strs Ohio now owns 7,700 shares of the company’s stock worth $140,000 after purchasing an additional 5,000 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Select Energy Services in the second quarter worth $141,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Select Energy Services in the fourth quarter worth $176,000. 43.03% of the stock is currently owned by institutional investors and hedge funds.
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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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