Select Water Solutions, Inc. (NYSE:WTTR) Given Average Rating of “Buy” by Brokerages

Select Water Solutions, Inc. (NYSE:WTTR) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.40.

A number of research firms have weighed in on WTTR. Raymond James Financial restated a “strong-buy” rating and set a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Bank of America assumed coverage on Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price target on the stock. Wall Street Zen lowered Select Water Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Zacks Research upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th.

Insider Activity

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

Hedge Funds Weigh In On Select Water Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after purchasing an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after purchasing an additional 2,356 shares in the last quarter. Millennium Management LLC grew its stake in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after buying an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Trading Down 5.5%

NYSE:WTTR opened at $17.97 on Friday. Select Water Solutions has a one year low of $7.86 and a one year high of $20.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market cap of $2.48 billion, a P/E ratio of 85.57 and a beta of 0.98. The firm has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $14.88.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. During the same quarter in the prior year, the company earned $0.08 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts anticipate that Select Water Solutions will post 0.45 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

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.