Select Energy Services Inc (NYSE:WTTR) – Stock analysts at B. Riley upped their FY2018 earnings per share estimates for shares of Select Energy Services in a research report issued to clients and investors on Monday, August 13th. B. Riley analyst T. Curran now anticipates that the company will earn $0.74 per share for the year, up from their prior estimate of $0.73. B. Riley currently has a “Buy” rating and a $22.00 target price on the stock.
Select Energy Services (NYSE:WTTR) last released its earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.24. Select Energy Services had a return on equity of 3.78% and a net margin of 1.58%. The firm had revenue of $393.20 million during the quarter, compared to the consensus estimate of $403.45 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue was up 192.6% compared to the same quarter last year.
Select Energy Services stock opened at $12.39 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 2.17. Select Energy Services has a 52 week low of $11.50 and a 52 week high of $21.96. The stock has a market cap of $1.57 billion, a P/E ratio of 15.71 and a beta of 2.44.
A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Select Energy Services by 20.9% during the second quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock valued at $55,390,000 after acquiring an additional 659,270 shares in the last quarter. BlackRock Inc. raised its position in Select Energy Services by 84.5% during the second quarter. BlackRock Inc. now owns 3,079,612 shares of the company’s stock valued at $44,746,000 after acquiring an additional 1,410,240 shares in the last quarter. American Financial Group Inc. raised its position in Select Energy Services by 61.8% during the second quarter. American Financial Group Inc. now owns 1,413,948 shares of the company’s stock valued at $20,544,000 after acquiring an additional 540,140 shares in the last quarter. Arosa Capital Management LP raised its position in Select Energy Services by 169.5% during the first quarter. Arosa Capital Management LP now owns 1,175,141 shares of the company’s stock valued at $14,830,000 after acquiring an additional 739,141 shares in the last quarter. Finally, Luminus Management LLC raised its position in Select Energy Services by 20.6% during the second quarter. Luminus Management LLC now owns 1,136,532 shares of the company’s stock valued at $16,514,000 after acquiring an additional 193,836 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.
In related news, CFO Nick L. Swyka purchased 2,500 shares of Select Energy Services stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average cost of $13.64 per share, for a total transaction of $34,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Gillette sold 12,883 shares of Select Energy Services stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $13.45, for a total value of $173,276.35. The disclosure for this sale can be found here. 8.29% of the stock is currently owned by company insiders.
Select Energy Services Company Profile
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and 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 hose; 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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