Select Energy Services Inc (NYSE:WTTR) Sees Large Decrease in Short Interest

Select Energy Services Inc (NYSE:WTTR) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,602,751 shares, a drop of 33.8% from the November 15th total of 2,422,191 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average trading volume of 345,659 shares, the days-to-cover ratio is presently 4.6 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of Select Energy Services by 117.4% during the third quarter. California State Teachers Retirement System now owns 15,000 shares of the company’s stock valued at $239,000 after acquiring an additional 8,100 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Select Energy Services during the second quarter valued at approximately $102,000. Alliancebernstein L.P. purchased a new position in shares of Select Energy Services during the second quarter valued at approximately $141,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Select Energy Services during the second quarter valued at approximately $192,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of Select Energy Services during the third quarter valued at approximately $252,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Select Energy Services (NYSE WTTR) traded up $0.67 during midday trading on Thursday, hitting $19.76. The stock had a trading volume of 361,982 shares, compared to its average volume of 317,085. The company has a market capitalization of $2,030.00 and a P/E ratio of 4.94. Select Energy Services has a 52-week low of $11.22 and a 52-week high of $19.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.83 and a current ratio of 2.84.

Select Energy Services (NYSE:WTTR) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $153.90 million during the quarter, compared to the consensus estimate of $147.65 million. Select Energy Services had a negative return on equity of 6.04% and a negative net margin of 6.18%. The company’s quarterly revenue was up 108.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.28) earnings per share. equities analysts expect that Select Energy Services will post 0.01 EPS for the current year.

WTTR has been the subject of a number of analyst reports. BidaskClub upgraded Select Energy Services from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Bank of America reiterated a “buy” rating and issued a $20.00 target price on shares of Select Energy Services in a report on Friday, December 8th. B. Riley reiterated a “buy” rating and issued a $21.00 target price on shares of Select Energy Services in a report on Monday, November 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $20.00 target price on shares of Select Energy Services in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded Select Energy Services from a “sell” rating to a “hold” rating and set a $17.00 target price for the company in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.78.

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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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