Select Water Solutions (NYSE:WTTR) Reaches New 52-Week High – Should You Buy?

Select Water Solutions, Inc. (NYSE:WTTR) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $20.48 and last traded at $20.1350, with a volume of 41051 shares traded. The stock had previously closed at $20.32.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler raised their price objective on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Bank of America initiated coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They issued a “buy” rating and a $22.00 target price for the company. Zacks Research downgraded shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Select Water Solutions Stock Performance

The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 94.15 and a beta of 0.98. 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 firm has a fifty day moving average of $18.66 and a 200 day moving average of $15.35.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. As a group, sell-side analysts forecast that Select Water Solutions, Inc. will post 0.45 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Select Water Solutions’s payout ratio is presently 133.33%.

Insider Activity

In related news, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the sale, the director owned 43,315 shares of the company’s stock, valued at approximately $727,692. This represents a 38.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the sale, the director owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by insiders.

Institutional Trading of Select Water Solutions

Several institutional investors have recently made changes to their positions in WTTR. Franklin Resources Inc. increased its position in shares of Select Water Solutions by 56.4% during the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Alliancebernstein L.P. lifted its position in Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after buying an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Select Water Solutions by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after buying an additional 997,847 shares during the period. Millennium Management LLC boosted its stake in Select Water Solutions by 466.8% during the first 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 period. Finally, Encompass Capital Advisors LLC increased its position in shares of Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock valued at $32,810,000 after acquiring an additional 746,534 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

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.