Market Analysts see Select Energy Services Inc. [WTTR] gaining to $8. Time to buy?

Select Energy Services Inc. [NYSE: WTTR] traded at a high on 09/02/22, posting a 7.30 gain after which it closed the day’ session at $7.20. The company report on August 4, 2022 that Superior Energy Services Announces Second Quarter 2022 Results and Conference Call.


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Superior Energy Services, Inc. filed its Form 10-Q for the period ending June 30, 2022 on August 4, 2022.  In accordance with the Company’s Shareholders Agreement, it will host a conference call with shareholders on Tuesday, August 9, 2022.

The Company reported net income from continuing operations for the second quarter of 2022 of $43.6 million, or $2.17 per diluted share, on revenue of $224.6 million. This compares to a net income from continuing operations of $24.0 million, or $1.20 per diluted share, for the first quarter of 2022, on revenues of $197.9 million.

The results of the trading session contributed to over 387963 shares changing hands. Over the past one week, the price volatility of Select Energy Services Inc. stands at 5.95% while the volatility over the past one month is 4.83%.

The market cap for WTTR stock reached $854.28 million, with 110.06 million shares outstanding and 64.55 million shares in the current float. Compared to the average trading volume of 506.62K shares, WTTR reached a trading volume of 387963 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Select Energy Services Inc. [WTTR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WTTR shares is $10.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WTTR stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Seaport Global Securities have made an estimate for Select Energy Services Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 15, 2021. The new note on the price target was released on October 02, 2020, representing the official price target for Select Energy Services Inc. stock. Previously, the target price had yet another drop from $8.50 to $4, while Piper Sandler kept a Neutral rating on WTTR stock.

The Average True Range (ATR) for Select Energy Services Inc. is set at 0.41, with the Price to Sales ratio for WTTR stock in the period of the last 12 months amounting to 0.78. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.22.

How has WTTR stock performed recently?

Select Energy Services Inc. [WTTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.96. With this latest performance, WTTR shares gained by 11.80% in over the last four-week period, additionally sinking by -25.08% over the last 6 months – not to mention a rise of 29.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WTTR stock in for the last two-week period is set at 51.69, with the RSI for the last a single of trading hit 51.70, and the three-weeks RSI is set at 51.04 for Select Energy Services Inc. [WTTR]. The present Moving Average for the last 50 days of trading for this stock 6.89, while it was recorded at 7.15 for the last single week of trading, and 7.41 for the last 200 days.

Select Energy Services Inc. [WTTR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Select Energy Services Inc. [WTTR] shares currently have an operating margin of -7.29 and a Gross Margin at +2.41. Select Energy Services Inc.’s Net Margin is presently recorded at -5.52.

Return on Equity for this stock declined to -7.13, with Return on Assets sitting at -4.62.

Select Energy Services Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.10.

Insider trade positions for Select Energy Services Inc. [WTTR]

There are presently around $504 million, or 70.70% of WTTR stock, in the hands of institutional investors. The top three institutional holders of WTTR stocks are: SCF PARTNERS, INC. with ownership of 13,131,013, which is approximately -4.911% of the company’s market cap and around 3.70% of the total institutional ownership; BLACKROCK INC., holding 5,552,872 shares of the stock with an approximate value of $39.98 million in WTTR stocks shares; and VAN ECK ASSOCIATES CORP, currently with $39.35 million in WTTR stock with ownership of nearly 8.722% of the company’s market capitalization.

Positions in Select Energy Services Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 71 institutional holders increased their position in Select Energy Services Inc. [NYSE:WTTR] by around 5,726,785 shares. Additionally, 65 investors decreased positions by around 3,866,032 shares, while 32 investors held positions by with 60,434,311 shares. The mentioned changes placed institutional holdings at 70,027,128 shares, according to the latest SEC report filing. WTTR stock had 18 new institutional investments in for a total of 1,224,137 shares, while 21 institutional investors sold positions of 1,942,002 shares during the same period.

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