Select Water Solutions (NYSE:WTTR) Hits New 12-Month High – What’s Next?

Select Water Solutions, Inc. (NYSE:WTTR) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $22.55 and last traded at $22.2020, with a volume of 6973475 shares. The stock had previously closed at $18.50.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WTTR shares. Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $26.00 in a research note on Thursday. Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Piper Sandler boosted their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Citigroup upped their price target on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Select Water Solutions Stock Down 2.6%

The business’s 50 day moving average is $19.08 and its 200-day moving average is $16.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 72.04 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.22% and a net margin of 2.24%.The company had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. During the same period in the previous year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.5 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of the firm’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 sale, the chief operating officer directly owned 360,738 shares in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the transaction, the director directly owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This represents a 38.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 195,000 shares of company stock valued at $3,472,203 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Select Water Solutions

Several institutional investors have recently modified their holdings of WTTR. Assenagon Asset Management S.A. increased its position in shares of Select Water Solutions by 41.0% during the second quarter. Assenagon Asset Management S.A. now owns 285,084 shares of the company’s stock valued at $5,696,000 after purchasing an additional 82,902 shares during the period. Empowered Funds LLC boosted its stake in Select Water Solutions by 6.2% during the first quarter. Empowered Funds LLC now owns 574,438 shares of the company’s stock worth $8,789,000 after buying an additional 33,614 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Select Water Solutions by 218,652.9% in the 1st quarter. NewEdge Advisors LLC now owns 223,128 shares of the company’s stock valued at $3,414,000 after buying an additional 223,026 shares during the period. Alpine Woods Capital Investors LLC acquired a new position in shares of Select Water Solutions in the 1st quarter valued at $233,000. Finally, Bank of America Corp DE lifted its holdings in shares of Select Water Solutions by 4.6% during the 1st quarter. Bank of America Corp DE now owns 348,968 shares of the company’s stock worth $5,339,000 after acquiring an additional 15,477 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.