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

Select Water Solutions (NYSE:WTTR) had its target price upped by Citigroup from $14.00 to $18.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Select Water Solutions Price Performance

WTTR opened at $13.57 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 23.00 and a beta of 1.76. Select Water Solutions has a fifty-two week low of $6.99 and a fifty-two week high of $15.14. The company’s 50-day moving average price is $13.63 and its 200 day moving average price is $11.91. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09.

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

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.06%. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Select Water Solutions by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,569,379 shares of the company’s stock valued at $70,291,000 after purchasing an additional 214,915 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Select Water Solutions by 1.3% in the third quarter. Victory Capital Management Inc. now owns 3,818,016 shares of the company’s stock valued at $42,495,000 after acquiring an additional 47,511 shares in the last quarter. FMR LLC boosted its holdings in shares of Select Water Solutions by 51.9% in the third quarter. FMR LLC now owns 3,728,787 shares of the company’s stock valued at $41,501,000 after acquiring an additional 1,274,600 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Select Water Solutions by 7.9% in the third quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after acquiring an additional 155,091 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Select Water Solutions by 87.3% in the second quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock valued at $20,438,000 after acquiring an additional 890,470 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.