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

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.40.

A number of analysts have recently commented on the company. Bank of America began coverage on Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 target price on the stock. Citigroup upped their target price 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. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Piper Sandler boosted their price objective on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. This trade represents a 38.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,010 shares of company stock worth $3,925,971 in the last 90 days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors have recently added to or reduced their stakes in WTTR. Barclays PLC grew its stake in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after purchasing an additional 857 shares during the period. Inspire Investing LLC lifted its stake in shares of Select Water Solutions by 1.9% in the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after purchasing an additional 1,023 shares during the period. ProShare Advisors LLC lifted its stake in shares of Select Water Solutions by 8.4% in the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after purchasing an additional 1,336 shares during the period. Quantinno Capital Management LP boosted its holdings in Select Water Solutions by 3.5% during the first quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock worth $645,000 after buying an additional 1,438 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Select Water Solutions by 2.5% during 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 in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Price Performance

Shares of NYSE:WTTR opened at $20.18 on Tuesday. The company’s fifty day moving average price is $19.08 and its 200 day moving average price is $15.86. Select Water Solutions has a 12 month low of $7.86 and a 12 month high of $21.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The firm has a market capitalization of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98.

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 analysts’ consensus estimates of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. During the same period in the previous year, the company earned $0.08 earnings per share. Select Water Solutions’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Select Water Solutions will post 0.46 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s payout ratio is presently 133.33%.

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.