Citigroup Forecasts Strong Price Appreciation for Select Water Solutions (NYSE:WTTR) Stock

Select Water Solutions (NYSE:WTTR) had its price target boosted by research analysts at Citigroup from $15.00 to $16.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 19.19% from the stock’s previous close.

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

Select Water Solutions Price Performance

Shares of NYSE WTTR traded up $0.07 during trading on Thursday, hitting $13.84. The company had a trading volume of 1,212,810 shares, compared to its average volume of 1,297,366. 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 fifty-two week low of $7.20 and a fifty-two week high of $15.45. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 65.93 and a beta of 1.03. The stock has a fifty day simple moving average of $11.89 and a two-hundred day simple moving average of $10.71.

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

Insider Buying and Selling

In related 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 sale, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 332,250 shares of company stock valued at $3,803,896 in the last quarter. 8.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WTTR. Farther Finance Advisors LLC raised its stake in shares of Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after acquiring an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions in the third quarter valued at approximately $29,000. State of Alaska Department of Revenue purchased a new stake in Select Water Solutions in the third quarter valued at approximately $33,000. Osaic Holdings Inc. lifted its stake in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after buying an additional 5,408 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

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.