Select Water Solutions (NYSE:WTTR) Given New $16.00 Price Target at Piper Sandler

by · The Markets Daily

Select Water Solutions (NYSE:WTTRFree Report) had its target price upped by Piper Sandler from $14.00 to $16.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently commented on WTTR. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $16.00 target price on shares of Select Water Solutions in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Select Water Solutions has an average rating of “Buy” and a consensus price target of $16.63.

Get Our Latest Analysis on Select Water Solutions

Select Water Solutions Trading Up 0.6%

Shares of WTTR opened at $13.85 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. Select Water Solutions has a 52-week low of $7.20 and a 52-week high of $15.45. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 65.96 and a beta of 1.03. The business’s fifty day moving average is $11.96 and its 200-day moving average is $10.73.

Select Water Solutions (NYSE:WTTRGet Free Report) last issued its 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). The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS. Equities analysts anticipate that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, February 6th. Select Water Solutions’s payout ratio is 133.33%.

Insider Activity

In other news, CEO John Schmitz sold 211,118 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $11.15, for a total transaction of $2,353,965.70. Following the completion of the transaction, the chief executive officer directly owned 32,687 shares in the company, valued at $364,460.05. This trade represents a 86.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 332,250 shares of company stock worth $3,803,896 in the last ninety days. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of Select Water Solutions by 17.5% in the 4th quarter. Invesco Ltd. now owns 913,844 shares of the company’s stock valued at $9,614,000 after purchasing an additional 136,324 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Select Water Solutions by 10.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock valued at $186,000 after buying an additional 1,692 shares during the period. Virtus Investment Advisers LLC acquired a new position in Select Water Solutions in the fourth quarter valued at $160,000. Inspire Investing LLC boosted its position in Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in Select Water Solutions during the 4th quarter worth about $315,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

(Get Free Report)

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.

Recommended Stories