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

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have earned a consensus rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.40.

WTTR has been the subject of several analyst reports. Piper Sandler boosted their target price 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. Wall Street Zen upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Raymond James Financial reiterated a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Finally, Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th.

Select Water Solutions Stock Down 6.2%

WTTR stock opened at $18.02 on Monday. The firm’s fifty day simple moving average is $16.99 and its 200-day simple moving average is $13.76. The company has a market capitalization of $2.49 billion, a P/E ratio of 85.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. Select Water Solutions has a 12 month low of $7.86 and a 12 month high of $20.48.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, equities research analysts forecast that Select Water Solutions will post 0.3 earnings per share for the current year.

Select Water Solutions Dividend Announcement

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

Insider Activity at Select Water Solutions

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction on Friday, May 15th. The shares were 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. This represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the transaction, the chief accounting officer owned 114,752 shares of the company’s stock, valued at $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 222,010 shares of company stock valued at $3,925,971. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Large investors have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP raised its position in Select Water Solutions by 55.7% during the third quarter. Cinctive Capital Management LP now owns 623,285 shares of the company’s stock worth $6,663,000 after acquiring an additional 222,849 shares during the period. Penn Capital Management Company LLC raised its position in Select Water Solutions by 12.2% during the third quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company’s stock worth $12,618,000 after acquiring an additional 128,257 shares during the period. Gabelli Funds LLC raised its position in Select Water Solutions by 91.9% during the third quarter. Gabelli Funds LLC now owns 325,209 shares of the company’s stock worth $3,476,000 after acquiring an additional 155,703 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in Select Water Solutions during the third quarter worth $1,604,000. Finally, Wedge Capital Management L L P NC raised its position in Select Water Solutions by 176.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock worth $3,147,000 after acquiring an additional 191,086 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.