Select Water Solutions (NYSE:WTTR) Price Target Raised to $16.50

Select Water Solutions (NYSE:WTTR) had its target price boosted by Citigroup from $15.00 to $16.50 in a report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Piper Sandler lifted their target price on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $16.00 price target on shares of Select Water Solutions in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Select Water Solutions presently has an average rating of “Buy” and a consensus target price of $16.63.

Select Water Solutions Stock Down 1.2%

Shares of NYSE:WTTR opened at $13.69 on Thursday. The firm has a market capitalization of $1.66 billion, a PE ratio of 65.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. Select Water Solutions has a 52-week low of $7.20 and a 52-week high of $15.45. The firm has a fifty day moving average of $12.02 and a 200 day moving average of $10.79.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.21). Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $320.85 million. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts anticipate that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, February 6th. Select Water Solutions’s dividend payout ratio is currently 133.33%.

Insiders Place Their Bets

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the sale, the chief executive officer owned 249,243 shares of the company’s stock, valued at $3,247,636.29. This trade represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 332,250 shares of company stock worth $3,803,896. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of institutional investors have recently modified their holdings of WTTR. Deprince Race & Zollo Inc. lifted its holdings in Select Water Solutions by 1,334.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after buying an additional 3,520,091 shares during the period. Franklin Resources Inc. increased its stake in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after buying an additional 2,786,172 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after acquiring an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Select Water Solutions by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after acquiring an additional 997,847 shares during the period. Finally, Millennium Management LLC lifted its stake in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares during the period. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.