Select Water Solutions (NYSE:WTTR) Upgraded at Citigroup

Select Water Solutions (NYSE:WTTR) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Thursday, FinViz reports. The brokerage currently has a $13.00 price target on the stock. Citigroup’s price objective suggests a potential upside of 40.16% from the stock’s previous close.

Separately, Northland Securities assumed coverage on Select Water Solutions in a research note on Monday, April 22nd. They issued a “market perform” rating and a $11.50 price objective on the stock.

Select Water Solutions Price Performance

NYSE:WTTR opened at $9.28 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.76 and a current ratio of 1.94. The company has a 50-day moving average of $9.08 and a 200-day moving average of $8.06. Select Water Solutions has a 52 week low of $6.78 and a 52 week high of $9.74. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.27 and a beta of 1.65.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $366.60 million during the quarter, compared to the consensus estimate of $369.29 million. Select Water Solutions had a net margin of 4.28% and a return on equity of 7.46%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, equities research analysts anticipate that Select Water Solutions will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In other Select Water Solutions news, CAO Brian Szymanski sold 6,422 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $8.60, for a total transaction of $55,229.20. Following the transaction, the chief accounting officer now owns 95,936 shares of the company’s stock, valued at $825,049.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Nick L. Swyka sold 9,009 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total value of $77,026.95. Following the completion of the sale, the chief financial officer now directly owns 272,140 shares in the company, valued at approximately $2,326,797. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $8.60, for a total value of $55,229.20. Following the completion of the transaction, the chief accounting officer now directly owns 95,936 shares in the company, valued at $825,049.60. The disclosure for this sale can be found here. Insiders sold a total of 46,511 shares of company stock valued at $398,053 in the last quarter. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WTTR. ProShare Advisors LLC raised its stake in Select Water Solutions by 8.6% in the first quarter. ProShare Advisors LLC now owns 14,356 shares of the company’s stock valued at $133,000 after purchasing an additional 1,131 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Select Water Solutions by 3.2% in the 1st quarter. Russell Investments Group Ltd. now owns 128,252 shares of the company’s stock valued at $1,184,000 after buying an additional 3,959 shares during the period. Inspire Advisors LLC acquired a new position in shares of Select Water Solutions in the 1st quarter valued at approximately $229,000. Swiss National Bank lifted its holdings in shares of Select Water Solutions by 6.2% during the 1st quarter. Swiss National Bank now owns 184,600 shares of the company’s stock worth $1,704,000 after acquiring an additional 10,800 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Select Water Solutions by 129.6% during the 1st quarter. Empowered Funds LLC now owns 471,545 shares of the company’s stock worth $4,352,000 after acquiring an additional 266,145 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.