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

Select Water Solutions (NYSE:WTTR) had its price objective upped by Citigroup from $16.50 to $18.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler upped their target price on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Northland Securities raised shares of 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 upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. One equities research 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. According to data from MarketBeat, Select Water Solutions presently has an average rating of “Buy” and an average target price of $17.00.

Select Water Solutions Trading Up 0.3%

NYSE WTTR opened at $15.22 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $13.64 and its two-hundred day simple moving average is $11.84. Select Water Solutions has a twelve month low of $7.20 and a twelve month high of $16.00. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 72.47 and a beta of 0.97.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data 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 firm had revenue of $346.50 million during 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%.Select Water Solutions’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Research analysts forecast that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Insider Activity

In other news, CEO John Schmitz sold 33,916 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were 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 directly owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Select Water Solutions by 160.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after purchasing an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions in the 3rd quarter worth approximately $29,000. State of Alaska Department of Revenue bought a new stake in shares of Select Water Solutions in the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. grew its position in shares of Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after buying an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake 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 valued at $60,000 after buying an additional 5,408 shares during the period. 81.73% of the stock is owned by institutional investors.

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.