Select Water Solutions (NYSE:WTTR) Price Target Raised to $18.00 at Citigroup

Select Water Solutions (NYSE:WTTR) had its target price increased by equities research analysts at Citigroup from $14.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 31.77% from the company’s previous close.

Select Water Solutions Stock Performance

NYSE WTTR traded up $0.11 on Friday, hitting $13.66. 362,324 shares of the company traded hands, compared to its average volume of 626,924. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $13.63 and its 200-day moving average price is $11.91. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 23.15 and a beta of 1.76. Select Water Solutions has a 52-week low of $6.99 and a 52-week high of $15.14.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The company had revenue of $371.35 million during the quarter, compared to the consensus estimate of $352.98 million. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. Equities analysts expect that Select Water Solutions will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in WTTR. FMR LLC increased its position in Select Water Solutions by 51.9% in the third quarter. FMR LLC now owns 3,728,787 shares of the company’s stock worth $41,501,000 after purchasing an additional 1,274,600 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Select Water Solutions by 87.3% in the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock worth $20,438,000 after buying an additional 890,470 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Select Water Solutions by 148.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock worth $12,478,000 after buying an additional 669,301 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Select Water Solutions by 32.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,964 shares of the company’s stock valued at $14,981,000 after buying an additional 329,353 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of Select Water Solutions by 82.7% in the 3rd quarter. Icon Wealth Advisors LLC now owns 629,569 shares of the company’s stock valued at $7,007,000 after acquiring an additional 284,891 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other 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.