Select Water Solutions (NYSE:WTTR) Stock Rating Lowered by Northland Securities

Select Water Solutions (NYSE:WTTR) was downgraded by Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Thursday, MarketBeat.com reports. They presently have a $12.00 target price on the stock. Northland Securities’ target price would suggest a potential upside of 20.66% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Tuesday, October 14th. Finally, Wall Street Zen downgraded Select Water Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Select Water Solutions has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Select Water Solutions Trading Down 1.5%

NYSE WTTR opened at $9.95 on Thursday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 52.34 and a beta of 1.18. The business has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $9.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 1.48. Select Water Solutions has a one year low of $7.20 and a one year high of $15.14.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $322.24 million for the quarter, compared to analyst estimates of $306.39 million. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.The company’s revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. Research analysts expect that Select Water Solutions will post 0.91 earnings per share for the current year.

Insider Activity

In other news, CEO John Schmitz sold 152,173 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $11.04, for a total transaction of $1,679,989.92. Following the completion of the sale, the chief executive officer directly owned 39,646 shares of the company’s stock, valued at $437,691.84. The trade was a 79.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in shares of Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after acquiring an additional 1,610 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Select Water Solutions in the 3rd quarter worth approximately $29,000. State of Alaska Department of Revenue bought a new stake in Select Water Solutions in the third quarter valued at approximately $33,000. Osaic Holdings Inc. boosted its stake 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 purchasing an additional 1,830 shares during the period. Finally, State of Wyoming grew its holdings in shares of Select Water Solutions by 34.1% in the first quarter. State of Wyoming now owns 5,932 shares of the company’s stock worth $62,000 after purchasing an additional 1,509 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, 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.