Select Water Solutions, Inc. (NYSE:WTTR) Receives $22.40 Consensus Price Target from Analysts

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.40.

Several brokerages have weighed in on WTTR. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Bank of America began coverage on Select Water Solutions in a research report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective for the company. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th.

Insider Activity at Select Water Solutions

In related news, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the transaction, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at $1,955,374.08. This trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock valued at $3,925,971 over the last three months. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of Select Water Solutions by 56.4% in the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after acquiring an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after acquiring an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Select Water Solutions by 124.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock valued at $19,258,000 after purchasing an additional 997,847 shares in the last quarter. Millennium Management LLC boosted its stake in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after acquiring an additional 802,833 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its position in shares of Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after purchasing an additional 746,534 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Price Performance

NYSE:WTTR opened at $20.79 on Tuesday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 98.99 and a beta of 0.98. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $19.06 and its two-hundred day moving average is $15.83. Select Water Solutions has a 12-month low of $7.86 and a 12-month high of $21.67.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. During the same quarter in the previous year, the business posted $0.08 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts expect that Select Water Solutions will post 0.46 EPS for the current year.

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.