Select Water Solutions, Inc. (NYSE:WTTR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.40.

Several analysts have recently issued reports on the stock. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Citigroup upped their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler increased their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th.

Insiders Place Their Bets

In related news, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares in the company, valued at approximately $727,692. This represents a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,010 shares of company stock valued at $3,925,971. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in Select Water Solutions by 41.0% during the second quarter. Assenagon Asset Management S.A. now owns 285,084 shares of the company’s stock valued at $5,696,000 after buying an additional 82,902 shares during the period. Empowered Funds LLC raised its position in Select Water Solutions by 6.2% in the first quarter. Empowered Funds LLC now owns 574,438 shares of the company’s stock worth $8,789,000 after acquiring an additional 33,614 shares during the period. NewEdge Advisors LLC raised its position in Select Water Solutions by 218,652.9% in the first quarter. NewEdge Advisors LLC now owns 223,128 shares of the company’s stock worth $3,414,000 after acquiring an additional 223,026 shares during the period. Alpine Woods Capital Investors LLC purchased a new position in Select Water Solutions in the first quarter valued at about $233,000. Finally, Bank of America Corp DE boosted its stake in Select Water Solutions by 4.6% in the first quarter. Bank of America Corp DE now owns 348,968 shares of the company’s stock valued at $5,339,000 after acquiring an additional 15,477 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Down 6.9%

Shares of NYSE:WTTR opened at $18.78 on Tuesday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 89.44 and a beta of 0.98. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions has a 12-month low of $7.86 and a 12-month high of $21.67. The business’s 50 day moving average is $19.07 and its 200 day moving average is $15.94.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million during 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%.Select Water Solutions’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts forecast that Select Water Solutions will post 0.46 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Select Water Solutions’s dividend payout ratio is currently 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.