Select Water Solutions (NYSE:WTTR) Stock Price Down 6.6% – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR) was down 6.6% during mid-day trading on Monday . The stock traded as low as $18.72 and last traded at $18.8290. 847,854 shares traded hands during trading, a decline of 50% from the average daily volume of 1,684,017 shares. The stock had previously closed at $20.17.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WTTR shares. Piper Sandler boosted their target price on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Northland Securities set a $21.00 price target on Select Water Solutions in a report on Thursday, May 7th. Bank of America initiated coverage on Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price objective on the stock. Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Select Water Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Stock Up 0.8%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The company has a market capitalization of $2.51 billion, a PE ratio of 86.83 and a beta of 0.98. The business’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $16.00.

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

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Insiders Place Their Bets

In other news, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the transaction, the director owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This represents a 38.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Skarke sold 20,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following the transaction, the chief operating officer owned 360,738 shares of the company’s stock, valued at approximately $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,010 shares of company stock worth $3,925,971 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Select Water Solutions in the 4th quarter valued at approximately $1,557,000. UBS Group AG boosted its position in shares of Select Water Solutions by 46.0% during the 4th quarter. UBS Group AG now owns 230,614 shares of the company’s stock worth $2,426,000 after purchasing an additional 72,613 shares during the period. Needham Investment Management LLC increased its holdings in Select Water Solutions by 34.8% in the 4th quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock valued at $8,153,000 after purchasing an additional 200,000 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in Select Water Solutions in the 4th quarter valued at approximately $443,000. Finally, Systematic Financial Management LP raised its position in Select Water Solutions by 3.9% in the fourth quarter. Systematic Financial Management LP now owns 1,374,163 shares of the company’s stock valued at $14,456,000 after purchasing an additional 52,182 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.