Select Water Solutions (NYSE:WTTR) Stock Price Up 4.1% – Should You Buy?

Select Water Solutions, Inc. (NYSE:WTTR) shares rose 4.1% during trading on Tuesday . The company traded as high as $20.05 and last traded at $20.3020. 98,938 shares traded hands during trading, a decline of 94% from the average daily volume of 1,673,391 shares. The stock had previously closed at $19.50.

Analysts Set New Price Targets

A number of research firms have recently commented on WTTR. Raymond James Financial downgraded shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Northland Securities set a $21.00 price objective on Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler upped their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Finally, Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Select Water Solutions currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Select Water Solutions Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 70.82 and a beta of 1.01. The stock’s 50 day moving average is $19.69 and its two-hundred day moving average is $17.44.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $395.81 million for the quarter, compared to analyst estimates of $373.33 million. During the same quarter last year, the firm earned $0.10 EPS. Select Water Solutions’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Select Water Solutions, Inc. will post 0.59 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Select Water Solutions’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Select Water Solutions during the 2nd quarter worth approximately $54,000. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the third quarter worth approximately $29,000. Nykredit A S bought a new position in Select Water Solutions during the 2nd quarter worth $62,000. Osaic Holdings Inc. increased its position in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 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.