Select Water Solutions (NYSE:WTTR) Sets New 12-Month High – Here’s Why

Shares of Select Water Solutions, Inc. (NYSE:WTTR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.89 and last traded at $20.4780, with a volume of 2153369 shares trading hands. The stock had previously closed at $20.33.

Analyst Ratings Changes

WTTR has been the topic of several recent research reports. Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup lifted their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Bank of America assumed coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Price Performance

The business’s 50 day moving average price is $19.01 and its 200-day moving average price is $15.76. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.95 billion, a PE ratio of 101.60 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Select Water Solutions’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts forecast that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Brian Szymanski sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 222,010 shares of company stock valued at $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in Select Water Solutions by 56.4% in the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. grew its position in Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after purchasing an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Select Water Solutions by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock valued at $19,258,000 after buying an additional 997,847 shares in the last quarter. Millennium Management LLC grew 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 in the last quarter. Finally, Encompass Capital Advisors LLC increased its holdings in Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after buying an additional 746,534 shares during 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.