Select Water Solutions (NYSE:WTTR) Trading 3.4% Higher – Should You Buy?

Select Water Solutions, Inc. (NYSE:WTTR) shot up 3.4% during trading on Thursday . The company traded as high as $10.29 and last traded at $10.49. 56,994 shares traded hands during trading, a decline of 94% from the average session volume of 957,506 shares. The stock had previously closed at $10.14.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their price objective on shares of Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Stock Performance

The firm has a market cap of $1.21 billion, a PE ratio of 33.85 and a beta of 1.77. The stock has a 50-day moving average price of $12.19 and a 200 day moving average price of $12.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The business had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Research analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.76%. The ex-dividend date was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio (DPR) is 93.33%.

Insiders Place Their Bets

In other Select Water Solutions news, CEO John Schmitz sold 73,450 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the sale, the chief executive officer now owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Select Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. Tower Research Capital LLC TRC raised its stake in shares of Select Water Solutions by 128.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock valued at $36,000 after acquiring an additional 1,525 shares during the period. Parkside Financial Bank & Trust increased its holdings in Select Water Solutions by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after purchasing an additional 1,007 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Select Water Solutions in the third quarter valued at about $107,000. Amundi lifted its stake in shares of Select Water Solutions by 83.8% during the fourth quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after purchasing an additional 4,109 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Select Water Solutions by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock valued at $126,000 after buying an additional 1,143 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.