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

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

Select Water Solutions Trading Up 0.1 %

Shares of NYSE:WTTR opened at $13.57 on Friday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 23.00 and a beta of 1.76. Select Water Solutions has a 1-year low of $6.99 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 1.78. The company has a 50 day moving average price of $13.63 and a 200 day moving average price of $11.91.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $371.35 million during the quarter, compared to analysts’ expectations of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, research analysts anticipate that Select Water Solutions will post 0.4 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

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

Institutional Investors Weigh In On Select Water Solutions

Several hedge funds have recently made changes to their positions in WTTR. FMR LLC lifted its position in shares of Select Water Solutions by 51.9% in the 3rd 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. American Century Companies Inc. lifted its position in shares of Select Water Solutions by 87.3% in the 2nd 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. Harbor Capital Advisors Inc. lifted its position in Select Water Solutions by 148.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock worth $12,478,000 after buying an additional 669,301 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Select Water Solutions by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,964 shares of the company’s stock worth $14,981,000 after buying an additional 329,353 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its position in Select Water Solutions by 82.7% in the 3rd quarter. Icon Wealth Advisors LLC now owns 629,569 shares of the company’s stock worth $7,007,000 after buying an additional 284,891 shares in the last quarter. Hedge funds and other institutional investors 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.