Citigroup Raises Select Water Solutions (NYSE:WTTR) Price Target to $16.50

Select Water Solutions (NYSE:WTTR) had its target price lifted by equities researchers at Citigroup from $15.00 to $16.50 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 20.57% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Piper Sandler lifted their target price on shares of Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Raymond James Financial reissued a “strong-buy” rating and set a $16.00 price target on shares of Select Water Solutions in a report on Wednesday, November 5th. Finally, Northland Securities raised 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $16.63.

Select Water Solutions Stock Down 1.2%

WTTR opened at $13.69 on Thursday. Select Water Solutions has a one year low of $7.20 and a one year 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 stock has a market capitalization of $1.66 billion, a P/E ratio of 65.17 and a beta of 1.03. The business’s 50-day simple moving average is $12.02 and its 200-day simple moving average is $10.77.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. During the same period last year, the firm earned ($0.02) EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts anticipate that Select Water Solutions will post 0.91 EPS for the current year.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 211,118 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $11.15, for a total transaction of $2,353,965.70. Following the completion of the transaction, the chief executive officer directly owned 32,687 shares of the company’s stock, valued at approximately $364,460.05. This represents a 86.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 332,250 shares of company stock worth $3,803,896. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Deprince Race & Zollo Inc. boosted its position in shares of Select Water Solutions by 1,334.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock worth $40,450,000 after purchasing an additional 3,520,091 shares in the last quarter. Villanova Investment Management Co LLC lifted its stake in shares of Select Water Solutions by 181.8% in the second quarter. Villanova Investment Management Co LLC now owns 217,519 shares of the company’s stock valued at $1,879,000 after purchasing an additional 140,328 shares during the period. American Century Companies Inc. boosted its holdings in Select Water Solutions by 4.0% during the second quarter. American Century Companies Inc. now owns 3,660,705 shares of the company’s stock worth $31,628,000 after buying an additional 142,449 shares in the last quarter. CenterBook Partners LP grew its position in Select Water Solutions by 504.8% during the second quarter. CenterBook Partners LP now owns 959,272 shares of the company’s stock worth $8,288,000 after buying an additional 800,656 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Select Water Solutions during the second quarter worth about $3,194,000. 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.