Select Water Solutions (NYSE:WTTR) Posts Earnings Results, Misses Expectations By $0.21 EPS

Select Water Solutions (NYSE:WTTR) announced its quarterly earnings results on Tuesday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21), reports. The business had revenue of $346.50 million during the quarter, compared to the consensus estimate of $320.85 million. Select Water Solutions had a net margin of 1.41% and a return on equity of 2.26%. Select Water Solutions’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS.

Select Water Solutions Stock Performance

Select Water Solutions stock opened at $15.23 on Wednesday. Select Water Solutions has a fifty-two week low of $7.20 and a fifty-two week high of $15.43. The stock’s 50 day simple moving average is $11.58 and its two-hundred day simple moving average is $10.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.64. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 76.53 and a beta of 1.03.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th will be issued a $0.07 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.28 annualized dividend and a yield of 1.8%. Select Water Solutions’s dividend payout ratio (DPR) is 147.37%.

Insider Activity at Select Water Solutions

In related news, CEO John Schmitz sold 211,118 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $11.15, for a total transaction of $2,353,965.70. Following the sale, the chief executive officer owned 32,687 shares of the company’s stock, valued at $364,460.05. The trade was a 86.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 332,250 shares of company stock valued at $3,803,896. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in WTTR. Royal Bank of Canada boosted its holdings in shares of Select Water Solutions by 10.1% during the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after acquiring an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after purchasing an additional 2,356 shares during the last quarter. Millennium Management LLC grew its position in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after purchasing an additional 802,833 shares during the period. Jones Financial Companies Lllp raised its stake in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WTTR. Piper Sandler set a $14.00 price objective on shares of Select Water Solutions in a research note on Thursday, December 18th. Raymond James Financial restated 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. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Northland Securities lowered shares of Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Select Water Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.