Select Water Solutions (NYSE:WTTR) Given New $16.00 Price Target at Raymond James

Select Water Solutions (NYSE:WTTR) had its price objective cut by investment analysts at Raymond James from $19.00 to $16.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective points to a potential upside of 93.94% from the company’s current price.

Separately, Citigroup upped their target price on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Stock Up 6.9 %

Shares of NYSE:WTTR opened at $8.25 on Friday. The stock has a 50-day simple moving average of $9.15 and a 200-day simple moving average of $11.79. The stock has a market capitalization of $984.13 million, a P/E ratio of 27.50 and a beta of 1.28. Select Water Solutions has a 1 year low of $7.20 and a 1 year high of $15.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. Equities analysts forecast that Select Water Solutions will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the sale, the chief executive officer now directly owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. This represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in shares of Select Water Solutions by 128.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after acquiring an additional 1,525 shares during the period. Parkside Financial Bank & Trust boosted its stake in Select Water Solutions by 24.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after purchasing an additional 1,007 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of Select Water Solutions in the first quarter valued at approximately $113,000. Amundi increased its stake in shares of Select Water Solutions by 83.8% in the fourth quarter. Amundi now owns 9,010 shares of the company’s stock valued at $119,000 after purchasing an additional 4,109 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Select Water Solutions during the first quarter worth approximately $123,000. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Company Profile

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.