Select Water Solutions, Inc. (NYSE:WTTR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $23.00.

A number of brokerages have weighed in on WTTR. TD Cowen lowered shares of Select Water Solutions to a “neutral” rating in a research report on Friday, August 21st. Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $26.00 in a research report on Thursday, August 6th. Bank of America started coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective for the company. Piper Sandler lifted 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, Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th.

Institutional Trading of Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in WTTR. Franklin Resources Inc. grew its holdings in Select Water Solutions by 56.4% during the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after buying an additional 2,786,172 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Select Water Solutions by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock worth $100,220,000 after buying an additional 185,821 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Select Water Solutions by 16.0% in the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after acquiring an additional 705,612 shares during the period. State Street Corp boosted its position in shares of Select Water Solutions by 15.1% in the fourth quarter. State Street Corp now owns 3,246,517 shares of the company’s stock valued at $34,153,000 after acquiring an additional 426,822 shares during the period. Finally, Encompass Capital Advisors LLC grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Up 3.4%

Shares of NYSE WTTR opened at $20.74 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40. The stock has a market capitalization of $2.87 billion, a PE ratio of 74.08 and a beta of 1.01. Select Water Solutions has a one year low of $8.36 and a one year high of $22.55. The business’s fifty day moving average price is $19.75 and its 200-day moving average price is $17.63.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The company had revenue of $395.81 million during the quarter, compared to analyst estimates of $373.33 million. During the same quarter last year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Select Water Solutions will post 0.59 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Select Water Solutions’s payout ratio is 100.00%.

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.