Select Water Solutions (NYSE:WTTR) Sets New 1-Year High – What’s Next?

Shares of Select Water Solutions, Inc. (NYSE:WTTR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.62 and last traded at $18.58, with a volume of 27117 shares. The stock had previously closed at $18.34.

Wall Street Analyst Weigh In

Several research firms have issued reports on WTTR. Piper Sandler lifted their price objective on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Northland Securities set a $21.00 price objective on Select Water Solutions in a report on Thursday, May 7th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup boosted their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.25.

Select Water Solutions Stock Up 1.6%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.92. The firm has a market capitalization of $2.61 billion, a P/E ratio of 89.95 and a beta of 0.99. The stock has a fifty day moving average price of $15.58 and a two-hundred day moving average price of $12.94.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. During the same period in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts forecast that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Activity at Select Water Solutions

In other news, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares of the company’s stock, valued at $727,692. This represents a 38.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Skarke sold 90,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.31, for a total value of $1,557,900.00. Following the sale, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. This represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 157,010 shares of company stock worth $2,708,068 in the last 90 days. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Select Water Solutions

Several hedge funds have recently modified their holdings of WTTR. Wilmington Savings Fund Society FSB purchased a new stake in shares of Select Water Solutions during the third quarter valued at $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Select Water Solutions during the third quarter valued at $33,000. Osaic Holdings Inc. lifted its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other 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.