Select Energy Services (NYSE:WTTR) Price Target Cut to $6.50 by Analysts at Citigroup

Select Energy Services (NYSE:WTTR – Get Rating) had its price objective decreased by Citigroup from $8.50 to $6.50 in a research report sent to investors on Thursday morning, The Fly reports. Citigroup currently has a neutral rating on the stock.

WTTR has been the topic of a number of other research reports. Piper Sandler boosted their price objective on Select Energy Services from $10.00 to $11.00 and gave the stock an overweight rating in a research note on Friday, November 18th. TheStreet downgraded Select Energy Services from a b- rating to a c rating in a report on Wednesday, February 22nd.

Select Energy Services Price Performance

Shares of NYSE WTTR opened at $5.68 on Thursday. Select Energy Services has a fifty-two week low of $5.51 and a fifty-two week high of $9.84. The business has a 50 day moving average price of $8.05 and a two-hundred day moving average price of $8.07. The company has a quick ratio of 2.06, a current ratio of 2.24 and a debt-to-equity ratio of 0.02. The firm has a market cap of $713.47 million, a PE ratio of 11.59 and a beta of 1.99.

Select Energy Services (NYSE:WTTR – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). Select Energy Services had a net margin of 3.48% and a return on equity of 5.04%. The company had revenue of $381.68 million for the quarter, compared to analyst estimates of $387.89 million. Sell-side analysts expect that Select Energy Services will post 1.19 earnings per share for the current fiscal year.

Select Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Tuesday, February 7th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 6th. This represents a $0.20 annualized dividend and a yield of 3.52%. Select Energy Services’s dividend payout ratio (DPR) is 40.82%.

Institutional Investors Weigh In On Select Energy Services

Several large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in Select Energy Services during the 3rd quarter worth approximately $35,000. Clear Street Markets LLC bought a new stake in Select Energy Services during the 4th quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Select Energy Services by 46.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,641 shares of the company’s stock worth $52,000 after acquiring an additional 1,796 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Select Energy Services by 43.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,616 shares of the company’s stock worth $53,000 after acquiring an additional 2,297 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in Select Energy Services during the 4th quarter worth $101,000. 58.35% of the stock is currently owned by institutional investors.

About Select Energy Services

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Select Energy Services Inc engages in the provision of water management and chemical solutions. It operates through the following business segments: Water Services, Oilfield Chemicals, and Water Infrastructure. The Water Services segment consists of services businesses, including water transfer, flowback and well testing, fluids hauling, water containment and water network automation, primarily serving E&P companies.