Seaport Global Securities lifts Select Energy Services Inc. [WTTR] price estimate. Who else is bullish?

Select Energy Services Inc. [NYSE: WTTR] gained 0.68% on the last trading session, reaching $8.85 price per share at the time. The company report on November 2, 2022 that SELECT ENERGY SERVICES ANNOUNCES ACQUISITION OF BREAKWATER ENERGY PARTNERS, REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS AND PROVIDES OTHER OPERATIONAL & ACQUISITION UPDATES.

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Revenue of $375 million generated during the third quarter of 2022, up 12% sequentially from the second quarter of 2022.

Net income of $24.7 million & Adjusted EBITDA of $62.8 million during the third quarter of 2022, representing sequential increases of 70% and 32%, respectively.

Select Energy Services Inc. represents 110.06 million in outstanding shares, while the company has a total market value of $1.06 billion with the latest information. WTTR stock price has been found in the range of $8.58 to $9.43.

If compared to the average trading volume of 586.39K shares, WTTR reached a trading volume of 3664998 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $10.62 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 2.20. 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 0.56, with the Price to Sales ratio for WTTR stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.21.

Trading performance analysis for WTTR stock

Select Energy Services Inc. [WTTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.31. With this latest performance, WTTR shares gained by 14.49% in over the last four-week period, additionally plugging by 18.16% over the last 6 months – not to mention a rise of 26.25% 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 54.50, with the RSI for the last a single of trading hit 50.66, and the three-weeks RSI is set at 55.93 for Select Energy Services Inc. [WTTR]. The present Moving Average for the last 50 days of trading for this stock 7.87, while it was recorded at 9.13 for the last single week of trading, and 7.80 for the last 200 days.

Select Energy Services Inc. [WTTR]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Select Energy Services Inc. [WTTR]

There are presently around $609 million, or 68.30% 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 0% of the company’s market cap and around 2.20% of the total institutional ownership; BLACKROCK INC., holding 5,552,872 shares of the stock with an approximate value of $49.14 million in WTTR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $34.76 million in WTTR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Select Energy Services Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 73 institutional holders increased their position in Select Energy Services Inc. [NYSE:WTTR] by around 5,338,969 shares. Additionally, 60 investors decreased positions by around 5,236,954 shares, while 33 investors held positions by with 58,208,423 shares. The mentioned changes placed institutional holdings at 68,784,346 shares, according to the latest SEC report filing. WTTR stock had 18 new institutional investments in for a total of 1,000,052 shares, while 15 institutional investors sold positions of 1,818,313 shares during the same period.


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