Select Water Solutions (NYSE:WTTR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Select Water Solutions (NYSE:WTTR) had its target price hoisted by equities researchers at Piper Sandler from $14.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 16.92% from the stock’s current price.

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

Select Water Solutions Stock Down 1.2%

WTTR stock opened at $13.69 on Thursday. The company has a market capitalization of $1.66 billion, a P/E ratio of 65.17 and a beta of 1.03. Select Water Solutions has a 12 month low of $7.20 and a 12 month high of $15.45. The firm’s fifty day simple moving average is $12.02 and its 200-day simple moving average is $10.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.57 and a quick ratio of 1.42.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 1.51% and a return on equity of 2.30%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, equities research analysts forecast that Select Water Solutions will post 0.91 earnings per share for the current year.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the completion of the transaction, the chief executive officer owned 249,243 shares in the company, valued at $3,247,636.29. This represents a 11.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 332,250 shares of company stock worth $3,803,896 over the last three months. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Select Water Solutions

Several large investors have recently bought and sold shares of the company. Deprince Race & Zollo Inc. raised its stake in Select Water Solutions by 1,334.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock valued at $40,450,000 after purchasing an additional 3,520,091 shares during the last quarter. Villanova Investment Management Co LLC boosted its stake in Select Water Solutions by 181.8% during the 2nd quarter. Villanova Investment Management Co LLC now owns 217,519 shares of the company’s stock worth $1,879,000 after purchasing an additional 140,328 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Select Water Solutions by 4.0% during the second quarter. American Century Companies Inc. now owns 3,660,705 shares of the company’s stock worth $31,628,000 after buying an additional 142,449 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Select Water Solutions in the second quarter worth about $3,194,000. Finally, CenterBook Partners LP lifted its stake in shares of Select Water Solutions by 504.8% in the second quarter. CenterBook Partners LP now owns 959,272 shares of the company’s stock worth $8,288,000 after buying an additional 800,656 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

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.