RBC Capital Maintains a Buy Rating on Select Energy Services (WTTR)

By Ryan Adsit

In a report issued on June 1, Kurt Hallead from RBC Capital maintained a Buy rating on Select Energy Services (WTTRResearch Report), with a price target of $7.00. The company’s shares closed last Thursday at $5.66.

According to TipRanks.com, Hallead ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -15.3% and a 27.7% success rate. Hallead covers the Services sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Select Energy Services is a Moderate Buy with an average price target of $4.67.

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Based on Select Energy Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $278 million and GAAP net loss of $246 million. In comparison, last year the company earned revenue of $363 million and had a net profit of $1.14 million.

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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 Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services to customers that includes integrated oil companies and independent oil and natural gas producers. The Oilfield Chemicals segment develops, manufactures and provides a full suite of chemicals utilized in hydraulic fracturing, stimulation, cementing and well completions, including polymer slurries, crosslinkers, friction reducers, buffers, breakers, and other chemical technologies, to pressure pumping service companies. The Wellsite Services segment offers oil and natural gas operators with a variety of services, including providing workforce accommodations and surface rental equipment, crane and logistics services, wellsite, and pipeline construction and field services. The company was founded on November 21, 2016 and is headquartered in Houston, TX.