Select Water Solutions (NYSE:WTTR) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Select Water Solutions (NYSE:WTTR) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other analysts have also issued research reports about the stock. Piper Sandler assumed coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Select Water Solutions has a consensus rating of “Buy” and a consensus price target of $15.00.

Select Water Solutions Stock Up 0.5%

Shares of NYSE WTTR opened at $11.02 on Friday. Select Water Solutions has a 12-month low of $7.20 and a 12-month high of $15.14. The firm’s 50-day simple moving average is $10.44 and its 200 day simple moving average is $9.36. The company has a quick ratio of 1.48, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 58.00 and a beta of 1.18.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Select Water Solutions had a net margin of 1.41% and a return on equity of 2.26%. The firm had revenue of $322.24 million during the quarter, compared to analysts’ expectations of $306.39 million. During the same quarter last year, the company posted $0.15 EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, research analysts expect that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, November 7th. Select Water Solutions’s payout ratio is currently 147.37%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WTTR. Villanova Investment Management Co LLC lifted its holdings in shares of Select Water Solutions by 7.4% during the 3rd quarter. Villanova Investment Management Co LLC now owns 233,646 shares of the company’s stock valued at $2,498,000 after purchasing an additional 16,127 shares in the last quarter. Vanguard Group Inc. raised its holdings in Select Water Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock worth $67,319,000 after buying an additional 15,800 shares during the period. Prescott Group Capital Management L.L.C. bought a new position in Select Water Solutions in the third quarter valued at approximately $1,604,000. Ranger Investment Management L.P. boosted its holdings in shares of Select Water Solutions by 21.0% in the third quarter. Ranger Investment Management L.P. now owns 454,290 shares of the company’s stock valued at $4,856,000 after buying an additional 78,765 shares during the period. Finally, Cullen Capital Management LLC increased its position in shares of Select Water Solutions by 7.3% during the third quarter. Cullen Capital Management LLC now owns 54,156 shares of the company’s stock worth $579,000 after acquiring an additional 3,663 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.