Select Water Solutions, Inc. (NYSE:WTTR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Select Water Solutions, Inc. (NYSE:WTTR) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.00.

WTTR has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. TD Cowen lowered shares of Select Water Solutions to a “neutral” rating in a research note on Friday. Piper Sandler lifted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 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 report on Thursday, August 6th. Finally, Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th.

Institutional Trading of Select Water Solutions

Several hedge funds have recently modified their holdings of WTTR. Public Employees Retirement System of Ohio acquired a new position in Select Water Solutions during the 2nd quarter worth $54,000. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions during the 3rd quarter worth about $29,000. Nykredit A S acquired a new stake in Select Water Solutions in the 2nd quarter valued at about $62,000. Osaic Holdings Inc. raised its position in Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Down 1.2%

Shares of NYSE WTTR opened at $19.73 on Friday. 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 business’s 50 day moving average is $19.49 and its two-hundred day moving average is $17.01. Select Water Solutions has a 52-week low of $8.06 and a 52-week high of $22.55. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 70.46 and a beta of 0.99.

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

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Select Water Solutions’s dividend payout ratio is currently 100.00%.

About Select Water Solutions

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.