Select Water Solutions (NYSE:WTTR) Stock Crosses Above 50 Day Moving Average – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $19.65 and traded as high as $20.16. Select Water Solutions shares last traded at $19.8820, with a volume of 1,297,465 shares traded.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WTTR. Bank of America boosted their price target on shares of Select Water Solutions from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. JPMorgan Chase & Co. initiated coverage on Select Water Solutions in a research note on Friday, August 21st. They set an “overweight” rating and a $24.00 price objective on the stock. Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, UBS Group reissued a “buy” rating and issued a $28.00 target price on shares of Select Water Solutions in a research note on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.57.

Select Water Solutions Trading Down 0.9%

The stock has a market capitalization of $2.74 billion, a P/E ratio of 70.57 and a beta of 1.01. The firm’s 50 day moving average price is $19.63 and its 200 day moving average price is $17.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%. The company had revenue of $395.81 million for the quarter, compared to analysts’ expectations of $373.33 million. During the same period last year, the firm earned $0.10 earnings per share. Select Water Solutions’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Select Water Solutions, Inc. will post 0.55 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 13th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Select Water Solutions

A number of large investors have recently made changes to their positions in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Select Water Solutions in the first quarter worth about $6,426,000. Ranger Investment Management L.P. bought a new stake in Select Water Solutions during the 2nd quarter valued at approximately $4,791,000. NewEdge Advisors LLC boosted its position in Select Water Solutions by 218,652.9% during the 1st quarter. NewEdge Advisors LLC now owns 223,128 shares of the company’s stock valued at $3,414,000 after acquiring an additional 223,026 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Select Water Solutions by 100.0% during the 1st quarter. Sei Investments Co. now owns 422,854 shares of the company’s stock worth $6,470,000 after acquiring an additional 211,421 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Select Water Solutions by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock worth $100,220,000 after acquiring an additional 185,821 shares during the period. 81.73% of the stock is currently owned by institutional investors.

About Select Water Solutions

Select Water Solutions, Inc provides water management and environmental services to the North American oil and gas industry. The company helps exploration and production companies source, transport, store, treat, recycle and dispose of water used in drilling and hydraulic fracturing operations.

Its services include freshwater sourcing and transfer, produced-water gathering and recycling, water infrastructure construction and management, well testing, and wastewater disposal. Select Water Solutions also provides water-treatment solutions and related equipment designed to support more efficient water use and reduce the environmental impact of oilfield operations.

Formerly known as Select Energy Services, the company adopted the Select Water Solutions name in 2023 to reflect its broader focus on water and environmental services.