Select Water Solutions (NYSE:WTTR) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note issued to investors on Friday. The firm set an “overweight” rating and a $24.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 20.06% from the company’s current price.

WTTR has been the subject of a number of other research reports. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Raymond James Financial cut shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. TD Cowen downgraded shares of Select Water Solutions to a “neutral” rating in a research report on Friday. Bank of America initiated coverage on Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 target price for the company. Finally, Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Select Water Solutions presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Select Water Solutions Stock Down 2.2%

WTTR stock opened at $19.99 on Friday. Select Water Solutions has a 52 week low of $7.89 and a 52 week high of $22.55. The business has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $16.99. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.77 billion, a PE ratio of 71.39 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The firm had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. During the same period in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Select Water Solutions will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Select Water Solutions

Several large investors have recently bought and sold shares of WTTR. Royal Bank of Canada boosted its stake in shares of Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after purchasing an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC increased its stake in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after buying an additional 802,833 shares during the period. Jones Financial Companies Lllp raised its holdings in Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Company Profile

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.