Select Water Solutions (NYSE:WTTR) Raised to Buy at Citigroup

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

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

Select Water Solutions Price Performance

WTTR stock opened at $9.28 on Thursday. The firm has a 50 day simple moving average of $9.08 and a two-hundred day simple moving average of $8.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.94 and a quick ratio of 1.76. The stock has a market cap of $1.10 billion, a PE ratio of 14.27 and a beta of 1.65. Select Water Solutions has a one year low of $6.78 and a one year high of $9.74.

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

Insider Buying and Selling at Select Water Solutions

In related news, CFO Nick L. Swyka sold 9,009 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total transaction of $77,026.95. Following the transaction, 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 SEC, which is available through this hyperlink. In related news, CFO Nick L. Swyka sold 9,009 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Szymanski sold 6,422 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 95,936 shares in the company, valued at approximately $825,049.60. The disclosure for this sale can be found here. Insiders sold a total of 46,511 shares of company stock worth $398,053 over the last three months. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WTTR. Wellington Management Group LLP raised its holdings in Select Water Solutions by 19.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,352 shares of the company’s stock worth $36,199,000 after purchasing an additional 728,101 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in Select Water Solutions during the 4th quarter valued at approximately $4,778,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Select Water Solutions by 113.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,646 shares of the company’s stock worth $7,526,000 after acquiring an additional 503,780 shares during the period. Vanguard Group Inc. raised its position in shares of Select Water Solutions by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,063,979 shares of the company’s stock worth $40,259,000 after acquiring an additional 464,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Select Water Solutions by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,031,868 shares of the company’s stock valued at $45,782,000 after purchasing an additional 300,115 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

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.