Select Energy Services (NYSE:WTTR) Downgraded by Zacks Investment Research

Select Energy Services (NYSE:WTTR – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Separately, Piper Sandler lifted their target price on Select Energy Services from $8.25 to $11.00 and gave the stock a “neutral” rating in a report on Monday, March 7th.

WTTR traded down $0.22 during midday trading on Wednesday, hitting $9.35. 4,929 shares of the company were exchanged, compared to its average volume of 326,478. The firm has a market capitalization of $1.07 billion, a P/E ratio of -58.06 and a beta of 2.34. Select Energy Services has a 1-year low of $4.88 and a 1-year high of $10.43. The firm’s 50 day moving average price is $8.30 and its 200-day moving average price is $7.60.

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Select Energy Services by 10.9% in the 1st quarter. Bank of America Corp DE now owns 68,666 shares of the company’s stock valued at $588,000 after purchasing an additional 6,724 shares during the period. Advisory Services Network LLC lifted its stake in shares of Select Energy Services by 17.8% in the 1st quarter. Advisory Services Network LLC now owns 205,274 shares of the company’s stock valued at $1,759,000 after purchasing an additional 31,090 shares during the period. Cannell Capital LLC lifted its stake in shares of Select Energy Services by 42.8% in the 1st quarter. Cannell Capital LLC now owns 2,948,758 shares of the company’s stock valued at $25,271,000 after purchasing an additional 884,022 shares during the period. Jane Street Group LLC acquired a new position in Select Energy Services during the 1st quarter worth approximately $410,000. Finally, Quantbot Technologies LP raised its stake in Select Energy Services by 1,899.5% during the 1st quarter. Quantbot Technologies LP now owns 47,188 shares of the company’s stock worth $404,000 after buying an additional 44,828 shares during the period. 63.30% of the stock is currently owned by institutional investors.

Select Energy Services Company Profile (Get Rating)

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and gas industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Oilfield Chemicals. The Water Services segment provides water-related services, including water transfer, flow back and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various on-site rental equipment and workforce accommodation services.

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