Analysts Set Select Water Solutions, Inc. (NYSE:WTTR) Target Price at $16.63

Select Water Solutions, Inc. (NYSE:WTTR) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.6250.

A number of research firms have weighed in on WTTR. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Piper Sandler lifted their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Citigroup boosted their price objective on shares of Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Thursday, February 19th. Finally, Wall Street Zen raised Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $14.36 on Wednesday. The stock has a 50-day moving average price of $12.98 and a two-hundred day moving average price of $11.37. Select Water Solutions has a 12 month low of $7.20 and a 12 month high of $15.45. The company has a market capitalization of $1.74 billion, a PE ratio of 68.39 and a beta of 0.98. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

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

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.03, for a total transaction of $441,925.48. Following the completion of the transaction, the chief executive officer directly owned 249,243 shares in the company, valued at $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTTR. Royal Bank of Canada raised its holdings in Select Water Solutions by 10.1% during the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after purchasing an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after purchasing an additional 2,356 shares during the last quarter. Millennium Management LLC increased its position in shares of Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after buying an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its position in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Select Water Solutions by 90.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock worth $12,726,000 after buying an additional 576,660 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.