Select Water Solutions (NYSE:WTTR) Stock Gets Price Target Trim from Citigroup

Select Water Solutions (NYSE:WTTR) had its target price cut by Citigroup from $24.00 to $23.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

WTTR has been the topic of a number of other reports. Raymond James Financial cut Select Water Solutions from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. TD Cowen lowered Select Water Solutions to a “neutral” rating in a research note on Friday, August 21st. Wall Street Zen lowered Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Bank of America increased their target price on Select Water Solutions from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Finally, UBS Group restated a “buy” rating and set a $28.00 price target on shares of Select Water Solutions in a research report on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.43.

Select Water Solutions Price Performance

Shares of Select Water Solutions stock opened at $16.38 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.40 and a current ratio of 1.61. Select Water Solutions has a 52-week low of $9.28 and a 52-week high of $22.55. The company has a fifty day moving average of $19.01 and a 200-day moving average of $17.56. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 39.95 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Monday, November 9th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $412.19 million during the quarter, compared to analysts’ expectations of $397.96 million. Select Water Solutions had a return on equity of 4.60% and a net margin of 3.28%. Select Water Solutions’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. Equities research analysts expect that Select Water Solutions will post 0.54 EPS for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 13th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Select Water Solutions’s dividend payout ratio is presently 68.29%.

Institutional Investors Weigh In On Select Water Solutions

A number of large investors have recently made changes to their positions in WTTR. Dimensional Fund Advisors LP increased its stake in shares of Select Water Solutions by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock valued at $100,220,000 after buying an additional 185,821 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in Select Water Solutions by 1.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,528,895 shares of the company’s stock worth $23,392,000 after acquiring an additional 27,704 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Select Water Solutions by 30.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,330,000 shares of the company’s stock valued at $26,321,000 after acquiring an additional 310,000 shares in the last quarter. Empowered Funds LLC boosted its holdings in Select Water Solutions by 6.4% in the third quarter. Empowered Funds LLC now owns 658,557 shares of the company’s stock valued at $13,033,000 after acquiring an additional 39,537 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Select Water Solutions by 100.0% in the first quarter. Sei Investments Co. now owns 422,854 shares of the company’s stock valued at $6,470,000 after acquiring an additional 211,421 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

About Select Water Solutions

Select Water Solutions, Inc. provides water-management and chemical services to oil and natural gas exploration and production companies. Its services support drilling, completions and ongoing production, with a focus on managing water used in and generated by energy operations. The company’s offerings include water sourcing, transfer, treatment, recycling and disposal, as well as water infrastructure such as pipelines and related facilities. It also supplies specialty chemicals and technical services designed for oilfield operations.