Select Water Solutions (NYSE:WTTR) Releases Earnings Results

Select Water Solutions (NYSE:WTTR) posted its quarterly earnings results on Tuesday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.21), reports. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The company had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $320.85 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The company’s revenue was down .7% on a year-over-year basis.

Select Water Solutions Stock Up 8.7%

Shares of WTTR opened at $14.41 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.64. The company has a 50-day simple moving average of $11.63 and a 200-day simple moving average of $10.54. Select Water Solutions has a 52 week low of $7.20 and a 52 week high of $15.43. The firm has a market capitalization of $1.75 billion, a P/E ratio of 68.62 and a beta of 1.03.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Select Water Solutions’s payout ratio is presently 147.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on WTTR shares. Piper Sandler set a $14.00 price target on Select Water Solutions in a research report on Thursday, December 18th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Raymond James Financial reiterated a “strong-buy” rating and set a $16.00 price target on shares of Select Water Solutions in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Select Water Solutions has an average rating of “Buy” and a consensus price target of $15.50.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, CEO John Schmitz sold 211,118 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $11.15, for a total value of $2,353,965.70. Following the completion of the transaction, the chief executive officer owned 32,687 shares of the company’s stock, valued at $364,460.05. This represents a 86.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 332,250 shares of company stock worth $3,803,896 in the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

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