Select Water Solutions, Inc. (NYSE:WTTR) Receives Average Rating of “Buy” from Analysts

Select Water Solutions, Inc. (NYSE:WTTR) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.40.

WTTR has been the subject of several research reports. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Zacks Research upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Piper Sandler increased their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th.

Insider Transactions at Select Water Solutions

In related news, COO Michael Skarke sold 90,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the completion of the transaction, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at $6,590,574.78. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. This trade represents a 38.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,010 shares of company stock valued at $3,925,971 in the last ninety days. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the third quarter valued at $29,000. Osaic Holdings Inc. lifted its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after acquiring an additional 5,408 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Select Water Solutions by 5,584.0% in the first 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Select Water Solutions by 190.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after buying an additional 5,847 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Down 0.0%

Shares of NYSE:WTTR opened at $17.93 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. Select Water Solutions has a 12-month low of $7.86 and a 12-month high of $20.48. The company has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $13.49. The firm has a market cap of $2.48 billion, a PE ratio of 85.37 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts anticipate that Select Water Solutions will post 0.29 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

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.