Citigroup Issues Pessimistic Forecast for Select Water Solutions (NYSE:WTTR) Stock Price

Key Points

• Citigroup lowered its price target on Select Water Solutions from $24 to $23 but maintained a Buy rating; the new target implies 42.06% upside from the stock’s then-current price.
• Analyst sentiment overall remains positive: the stock has a “Moderate Buy” consensus and an average price target of $24.43, with seven Buy and three Hold ratings.
• Latest quarterly results were mixed: EPS of $0.16 missed estimates of $0.18, while revenue of $412.19 million beat forecasts and rose 27.9% year over year.

Select Water Solutions (NYSE:WTTR - Get Free Report) had its target price cut by stock analysts at Citigroup from $24.00 to $23.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 42.06% from the stock's current price.

Several other equities research analysts also recently weighed in on WTTR. JPMorgan Chase & Co. assumed coverage on Select Water Solutions in a report on Friday, August 21st. They set an "overweight" rating and a $24.00 price objective on the stock. UBS Group reaffirmed a "buy" rating and issued a $28.00 target price on shares of Select Water Solutions in a report on Wednesday, September 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a research report on Friday, October 2nd. Bank of America lifted their price target on Select Water Solutions from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, September 30th. Finally, Raymond James Financial cut Select Water Solutions from a "strong-buy" rating to an "outperform" rating and boosted their price target for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.43.

Select Water Solutions Price Performance

Select Water Solutions stock traded up $0.88 during mid-day trading on Wednesday, reaching $16.19. The company had a trading volume of 979,940 shares, compared to its average volume of 1,707,323. Select Water Solutions has a fifty-two week low of $9.28 and a fifty-two week high of $22.55. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.24 billion, a P/E ratio of 39.51 and a beta of 0.98. The business has a fifty day simple moving average of $19.24 and a 200 day simple moving average of $17.49.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Select Water Solutions had a return on equity of 4.70% and a net margin of 3.28%. The company had revenue of $412.19 million for the quarter, compared to analyst estimates of $397.96 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 27.9% on a year-over-year basis. On average, equities research analysts predict that Select Water Solutions will post 0.55 earnings per share for the current year.

Institutional Trading of Select Water Solutions

Several institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC raised its position in Select Water Solutions by 82.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,569 shares of the company's stock worth $51,000 after purchasing an additional 1,158 shares during the last quarter. Cullen Capital Management LLC grew its position in shares of Select Water Solutions by 7.6% in the 3rd quarter. Cullen Capital Management LLC now owns 26,805 shares of the company's stock valued at $530,000 after buying an additional 1,904 shares during the last quarter. EagleClaw Capital Managment LLC grew its position in shares of Select Water Solutions by 5.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 39,200 shares of the company's stock valued at $776,000 after buying an additional 2,200 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Select Water Solutions by 80.2% in the 3rd quarter. Fifth Third Bancorp now owns 92,505 shares of the company's stock valued at $1,831,000 after buying an additional 41,160 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Select Water Solutions by 16.1% in the third quarter. Alps Advisors Inc. now owns 355,798 shares of the company's stock valued at $7,041,000 after buying an additional 49,367 shares during the period. Institutional investors own 81.73% of the company's stock.

About Select Water Solutions

Select Water Solutions, Inc. provides water-management and chemical services to oil and natural gas exploration and production companies. Its services support drilling, completions and ongoing production, with a focus on managing water used in and generated by energy operations. The company's offerings include water sourcing, transfer, treatment, recycling and disposal, as well as water infrastructure such as pipelines and related facilities. It also supplies specialty chemicals and technical services designed for oilfield operations.

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