Select Water Solutions (NYSE:WTTR) Price Target Raised to $16.00

Select Water Solutions (NYSE:WTTR) had its target price lifted by Piper Sandler from $14.00 to $16.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

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

Select Water Solutions Price Performance

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

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $320.85 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

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

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of Select Water Solutions 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 directly owned 249,243 shares in the company, valued at approximately $3,247,636.29. The trade was a 11.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 332,250 shares of company stock valued at $3,803,896. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Select Water Solutions by 160.2% in the third quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after purchasing an additional 1,610 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Select Water Solutions in the 3rd quarter worth approximately $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Select Water Solutions during the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. boosted its position in shares of Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after acquiring an additional 5,408 shares during the last quarter. 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.