Select Water Solutions (NYSE:WTTR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Select Water Solutions (NYSE:WTTR) from a hold rating to a buy rating in a report issued on Saturday.

A number of other analysts also recently issued reports on WTTR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Bank of America started coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Citigroup upped their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Select Water Solutions presently has an average rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Trading Up 0.7%

Shares of WTTR opened at $20.48 on Friday. The firm’s fifty day moving average is $18.90 and its two-hundred day moving average is $15.62. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.83 billion, a PE ratio of 97.51 and a beta of 0.98. Select Water Solutions has a 52-week low of $7.86 and a 52-week high of $20.89.

Select Water Solutions (NYSE:WTTR) last issued its 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. The business had revenue of $365.96 million for the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. Research analysts forecast that Select Water Solutions will post 0.46 earnings per share for the current fiscal year.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 43,315 shares of the company’s stock, valued at $727,692. The trade was a 38.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Skarke sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the sale, the chief operating officer owned 360,738 shares in the company, valued at $6,413,921.64. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,010 shares of company stock worth $3,925,971 in the last ninety days. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Select Water Solutions during the fourth quarter worth $1,557,000. Wedge Capital Management L L P NC raised its stake in Select Water Solutions by 176.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock valued at $3,147,000 after buying an additional 191,086 shares in the last quarter. UBS Group AG raised its stake in Select Water Solutions by 46.0% in the fourth quarter. UBS Group AG now owns 230,614 shares of the company’s stock valued at $2,426,000 after buying an additional 72,613 shares in the last quarter. Needham Investment Management LLC lifted its holdings in Select Water Solutions by 34.8% during the 4th quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock worth $8,153,000 after buying an additional 200,000 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in Select Water Solutions during the 4th quarter worth about $443,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

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.