Select Water Solutions (NYSE:WTTR) Raised to "Buy" at Citigroup

Citigroup upgraded shares of Select Water Solutions (NYSE:WTTR - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. Citigroup currently has $13.00 price objective on the stock.

Separately, Northland Securities assumed coverage on shares of Select Water Solutions in a research report on Monday, April 22nd. They set a market perform rating and a $11.50 price target on the stock.

Select Water Solutions Price Performance

WTTR stock traded up $0.21 during trading on Thursday, hitting $9.48. The stock had a trading volume of 904,649 shares, compared to its average volume of 1,160,179. The company's 50-day moving average price is $9.08 and its two-hundred day moving average price is $8.06. Select Water Solutions has a twelve month low of $6.78 and a twelve month high of $9.76. The stock has a market capitalization of $1.12 billion, a P/E ratio of 14.54 and a beta of 1.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.94 and a quick ratio of 1.76.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The firm had revenue of $366.60 million for the quarter, compared to analysts' expectations of $369.29 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The firm's revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts predict that Select Water Solutions will post 0.64 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, May 2nd. Select Water Solutions's payout ratio is currently 36.92%.

Insider Transactions at Select Water Solutions

In other news, CAO Brian Szymanski sold 8,080 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total value of $67,306.40. Following the completion of the sale, the chief accounting officer now owns 84,304 shares of the company's stock, valued at approximately $702,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the transaction, the senior vice president now owns 255,587 shares of the company's stock, valued at $2,205,715.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Szymanski sold 8,080 shares of Select Water Solutions stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total transaction of $67,306.40. Following the sale, the chief accounting officer now owns 84,304 shares of the company's stock, valued at $702,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 46,511 shares of company stock worth $398,053 in the last quarter. Company insiders own 8.40% of the company's stock.

Institutional Trading of Select Water Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Select Water Solutions by 19.0% during the third quarter. Wellington Management Group LLP now owns 4,553,352 shares of the company's stock worth $36,199,000 after purchasing an additional 728,101 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in Select Water Solutions during the 4th quarter worth $4,778,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Select Water Solutions by 113.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 946,646 shares of the company's stock worth $7,526,000 after acquiring an additional 503,780 shares during the period. Vanguard Group Inc. raised its holdings in Select Water Solutions by 10.1% during the third quarter. Vanguard Group Inc. now owns 5,063,979 shares of the company's stock worth $40,259,000 after purchasing an additional 464,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Select Water Solutions by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,031,868 shares of the company's stock valued at $45,782,000 after buying an additional 300,115 shares during the period. 81.73% of the stock is owned by hedge funds and other 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.