Panagora Asset Management Inc. Invests $1.22 Million in Select Energy Services Inc (NYSE:WTTR)

Panagora Asset Management Inc. acquired a new position in Select Energy Services Inc (NYSE:WTTR) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 105,087 shares of the company’s stock, valued at approximately $1,220,000. Panagora Asset Management Inc. owned 0.10% of Select Energy Services at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new position in shares of Select Energy Services in the 2nd quarter worth about $25,000. BNP Paribas Arbitrage SA raised its holdings in shares of Select Energy Services by 579.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,617 shares of the company’s stock worth $116,000 after purchasing an additional 8,202 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Select Energy Services in the 2nd quarter worth about $139,000. Bank of Montreal Can raised its holdings in shares of Select Energy Services by 2,021.4% in the 1st quarter. Bank of Montreal Can now owns 13,513 shares of the company’s stock worth $163,000 after purchasing an additional 12,876 shares during the period. Finally, ELCO Management Co. LLC purchased a new position in shares of Select Energy Services in the 1st quarter worth about $185,000. Institutional investors own 59.44% of the company’s stock.

Shares of WTTR stock traded down $0.11 during trading hours on Thursday, reaching $8.21. The company had a trading volume of 15,317 shares, compared to its average volume of 500,176. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.32 and a current ratio of 2.56. Select Energy Services Inc has a twelve month low of $6.05 and a twelve month high of $12.98. The company has a market capitalization of $903.76 million, a P/E ratio of 9.52 and a beta of 2.72. The stock’s fifty day simple moving average is $8.64 and its 200 day simple moving average is $10.60.

Select Energy Services (NYSE:WTTR) last posted its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Select Energy Services had a net margin of 1.16% and a return on equity of 5.12%. The company had revenue of $323.90 million during the quarter, compared to analyst estimates of $357.28 million. During the same quarter last year, the business posted $0.24 EPS. Select Energy Services’s quarterly revenue was down 17.6% compared to the same quarter last year. As a group, equities analysts expect that Select Energy Services Inc will post 0.51 earnings per share for the current year.

WTTR has been the subject of a number of recent research reports. ValuEngine upgraded Select Energy Services from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 4th. B. Riley set a $19.00 target price on Select Energy Services and gave the company a “buy” rating in a research note on Monday, May 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $10.00 target price on shares of Select Energy Services in a research note on Thursday, August 8th. TheStreet lowered Select Energy Services from a “c-” rating to a “d+” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Co lowered their target price on Select Energy Services from $10.50 to $10.00 and set a “market perform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $13.56.

Select Energy Services Profile

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary pipe; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.

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Institutional Ownership by Quarter for Select Energy Services (NYSE:WTTR)

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