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

Select Water Solutions (NYSE:WTTR) had its target price raised by analysts at Citigroup from $15.00 to $16.50 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 19.19% from the company’s current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated 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 stock an “overweight” rating in a report on Thursday. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $16.00 price objective on shares of Select Water Solutions in a research report on Wednesday, November 5th. Finally, Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.63.

Select Water Solutions Stock Up 0.5%

NYSE:WTTR traded up $0.07 during mid-day trading on Thursday, reaching $13.84. The company’s stock 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 1 year low of $7.20 and a 1 year high of $15.45. The stock has a fifty day moving average of $11.89 and a 200-day moving average of $10.71. The firm has a market capitalization of $1.68 billion, a PE ratio of 65.93 and a beta of 1.03.

Select Water Solutions (NYSE:WTTR) last posted 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 net margin of 1.51% and a return on equity of 2.30%. The business had revenue of $346.50 million during the quarter, compared to the consensus estimate of $320.85 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts forecast that Select Water Solutions will post 0.91 earnings per share for the current year.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of Select Water Solutions stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 249,243 shares in the company, valued at approximately $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 corporate insiders.

Hedge Funds Weigh In On Select Water Solutions

Several large investors have recently made changes to their positions in WTTR. Royal Bank of Canada increased its holdings in Select Water Solutions by 10.1% in the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after buying an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after acquiring an additional 2,356 shares during the period. Millennium Management LLC increased its stake in shares of Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Select Water Solutions by 90.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock worth $12,726,000 after purchasing an additional 576,660 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.