Select Water Solutions (NYSE:WTTR) Cut to Hold at Northland Capmk

Northland Capmk downgraded shares of Select Water Solutions (NYSE:WTTR) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Northland Securities cut Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. Wall Street Zen lowered Select Water Solutions from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $16.00 price target on shares of Select Water Solutions in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Select Water Solutions Price Performance

NYSE:WTTR opened at $9.95 on Thursday. The stock has a market capitalization of $1.21 billion, a PE ratio of 52.34 and a beta of 1.18. Select Water Solutions has a 1-year low of $7.20 and a 1-year high of $15.14. The firm has a fifty day simple moving average of $10.60 and a 200 day simple moving average of $9.40. The company has a current ratio of 1.64, a quick ratio of 1.48 and a debt-to-equity ratio of 0.31.

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

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. Select Water Solutions’s dividend payout ratio is currently 147.37%.

Insiders Place Their Bets

In other news, CEO John Schmitz sold 152,173 shares of Select Water Solutions stock in a transaction on Monday, November 10th. The stock was 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 owned 39,646 shares of the company’s stock, valued at approximately $437,691.84. This trade represents a 79.33% 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. 8.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Select Water Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after purchasing an additional 1,610 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the third quarter worth approximately $29,000. State of Alaska Department of Revenue acquired a new stake in shares of Select Water Solutions in the third quarter valued at approximately $33,000. Osaic Holdings Inc. raised its position in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after buying an additional 1,830 shares in the last quarter. Finally, State of Wyoming boosted its stake 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 valued at $62,000 after buying an additional 1,509 shares during the period. 81.73% of the stock is currently 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.