Select Water Solutions (NYSE:WTTR) Raised to “Strong-Buy” at Zacks Research

Select Water Solutions (NYSE:WTTR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. 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. Piper Sandler lifted their price objective 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. Finally, Citigroup lifted their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $22.50.

Select Water Solutions Trading Down 0.1%

NYSE:WTTR opened at $19.27 on Monday. 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 cap of $2.66 billion, a price-to-earnings ratio of 91.76 and a beta of 0.99. Select Water Solutions has a 52 week low of $7.86 and a 52 week high of $20.48. The firm has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $13.34.

Select Water Solutions (NYSE:WTTR) last posted 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. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts expect that Select Water Solutions will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares of the company’s stock, valued at $727,692. This trade represents a 38.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Alan Burnett sold 45,316 shares of the firm’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 of the company’s stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,010 shares of company stock valued at $3,925,971 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WTTR. Franklin Resources Inc. boosted its holdings in Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after purchasing an additional 2,786,172 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Select Water Solutions by 2,133.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after acquiring an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Select Water Solutions by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after acquiring an additional 997,847 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in shares of Select Water Solutions by 31.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after acquiring an additional 746,534 shares during the last quarter. 81.73% of the stock is owned by institutional investors.

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.