Bank of Montreal Can Increases Stock Position in Select Energy Services Inc (NYSE:WTTR)

Bank of Montreal Can lifted its stake in shares of Select Energy Services Inc (NYSE:WTTR) by 2,021.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,513 shares of the company’s stock after acquiring an additional 12,876 shares during the quarter. Bank of Montreal Can’s holdings in Select Energy Services were worth $163,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prudential Financial Inc. purchased a new stake in Select Energy Services during the 4th quarter valued at $448,000. Peregrine Capital Management LLC increased its holdings in shares of Select Energy Services by 4.6% in the first quarter. Peregrine Capital Management LLC now owns 924,569 shares of the company’s stock valued at $11,113,000 after buying an additional 40,918 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Select Energy Services by 25.3% in the third quarter. Vanguard Group Inc. now owns 2,443,949 shares of the company’s stock valued at $28,936,000 after buying an additional 493,803 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Select Energy Services in the fourth quarter valued at $997,000. Finally, 22NW LP bought a new position in shares of Select Energy Services in the fourth quarter valued at $1,092,000. Institutional investors own 57.78% of the company’s stock.

In other news, EVP Mitchell Shauf sold 20,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $11.14, for a total value of $222,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.22% of the company’s stock.

Select Energy Services stock traded up $0.45 during trading hours on Wednesday, hitting $12.18. 352,576 shares of the stock were exchanged, compared to its average volume of 500,865. Select Energy Services Inc has a 12 month low of $6.05 and a 12 month high of $15.85. The company has a quick ratio of 2.02, a current ratio of 2.24 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $11.47. The stock has a market capitalization of $1.24 billion, a PE ratio of 14.16 and a beta of 2.79.

Select Energy Services (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Select Energy Services had a net margin of 1.82% and a return on equity of 6.11%. The firm had revenue of $362.65 million for the quarter, compared to the consensus estimate of $360.60 million. As a group, sell-side analysts expect that Select Energy Services Inc will post 0.79 EPS for the current year.

Several research firms have weighed in on WTTR. B. Riley set a $19.00 price objective on shares of Select Energy Services and gave the stock a “buy” rating in a research report on Monday, May 20th. Royal Bank of Canada set a $15.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Thursday, February 28th. Wells Fargo & Co set a $14.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Thursday, February 28th. TheStreet upgraded shares of Select Energy Services from a “d+” rating to a “c-” rating in a report on Thursday, May 16th. Finally, Piper Jaffray Companies set a $14.00 price target on shares of Select Energy Services and gave the company a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Select Energy Services has a consensus rating of “Buy” and an average target price of $15.80.

About Select Energy Services

Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and natural 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 pipe; 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.

Further Reading: Hedge Funds

Institutional Ownership by Quarter for Select Energy Services (NYSE:WTTR)

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