Brokerages Set Select Water Solutions, Inc. (NYSE:WTTR) Target Price at $22.40

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.40.

WTTR has been the subject of several recent research reports. Bank of America initiated coverage on Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price target for the company. Piper Sandler lifted their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Raymond James Financial restated a “strong-buy” rating and issued a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Citigroup boosted their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th.

Insiders Place Their Bets

In other news, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was 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 $727,692. The trade was a 38.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the sale, the director owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,010 shares of company stock valued at $3,925,971 over the last ninety days. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Select Water Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in WTTR. Wilmington Savings Fund Society FSB purchased a new stake in shares of Select Water Solutions in the third quarter valued at approximately $29,000. Osaic Holdings Inc. increased its position in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after buying an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock worth $77,000 after purchasing an additional 5,847 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Stock Up 0.1%

Shares of WTTR stock opened at $18.02 on Monday. The stock has a 50 day moving average of $16.99 and a 200 day moving average of $13.79. 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 stock has a market cap of $2.49 billion, a P/E ratio of 85.82 and a beta of 1.00. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $20.48.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share. As a group, sell-side analysts expect that Select Water Solutions will post 0.38 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Select Water Solutions’s payout ratio is 133.33%.

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.