Select Water Solutions (NYSE:WTTR) Price Target Raised to $18.00 at Citigroup

Select Water Solutions (NYSE:WTTR) had its target price raised by Citigroup from $16.50 to $18.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 19th. Wall Street Zen raised Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Piper Sandler increased their price objective on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $17.00.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $15.22 on Thursday. The firm has a 50 day moving average of $13.58 and a two-hundred day moving average of $11.78. The stock has a market capitalization of $1.85 billion, a PE ratio of 72.47 and a beta of 0.97. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31. Select Water Solutions has a 52 week low of $7.20 and a 52 week high of $16.00.

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

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were given a $0.07 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Select Water Solutions’s dividend payout ratio is currently 133.33%.

Insider Buying and Selling at Select Water Solutions

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 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 owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in WTTR. Deprince Race & Zollo Inc. increased its position in Select Water Solutions by 1,334.5% during the third quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after purchasing an additional 3,520,091 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Select Water Solutions by 56.4% during the 4th 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. increased its holdings in shares of Select Water Solutions by 2,133.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after buying an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Select Water Solutions by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after buying an additional 997,847 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Select Water Solutions by 466.8% in the 1st 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. Hedge funds and other institutional investors 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.