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

Select Water Solutions (NYSE:WTTR) had its target price upped by equities research analysts at Citigroup from $16.50 to $18.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 18.73% from the company’s previous close.

Several other analysts also recently commented on the stock. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Piper Sandler raised their price target on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.00.

Select Water Solutions Stock Performance

Shares of WTTR stock traded up $0.08 during trading hours on Thursday, reaching $15.16. 676,193 shares of the company traded hands, compared to its average volume of 1,444,043. The firm has a 50-day moving average price of $13.52 and a 200 day moving average price of $11.76. The company has a market cap of $1.84 billion, a P/E ratio of 72.15 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.57 and a quick ratio of 1.42. Select Water Solutions has a 12-month low of $7.20 and a 12-month high of $16.00.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (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 during the quarter, compared to analysts’ expectations of $320.85 million. During the same period in the prior year, the company posted ($0.02) earnings per share. The company’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts predict that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction on 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 trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Select Water Solutions by 0.6% in the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock valued at $1,553,000 after purchasing an additional 857 shares during the last quarter. Inspire Investing LLC raised its holdings in Select Water Solutions by 1.9% during the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after buying an additional 1,023 shares during the period. ProShare Advisors LLC raised its holdings in Select Water Solutions by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after buying an additional 1,336 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Select Water Solutions by 2.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after buying an additional 1,541 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in Select Water Solutions by 1.7% during the third quarter. Legato Capital Management LLC now owns 97,358 shares of the company’s stock worth $1,041,000 after buying an additional 1,587 shares during the period. 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.