Select Water Solutions, Inc. (NYSE:WTTR) Given Average Recommendation of “Buy” by Analysts

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been assigned an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.25.

A number of research firms have issued reports on WTTR. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Northland Securities set a $21.00 price objective on Select Water Solutions in a report on Thursday, May 7th. Piper Sandler increased their target price on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Raymond James Financial reissued a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday.

Insider Transactions at Select Water Solutions

In other news, Director Robin H. Fielder sold 27,010 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the sale, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. This represents a 38.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Skarke sold 20,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the sale, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 157,010 shares of company stock valued at $2,708,068. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently modified their holdings of WTTR. Farther Finance Advisors LLC boosted its position in shares of Select Water Solutions by 160.2% during the third quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after buying an additional 1,610 shares during the last quarter. 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. boosted its position 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 buying an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position 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 buying an additional 5,408 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

WTTR opened at $18.34 on Thursday. The stock has a fifty day simple moving average of $15.37 and a two-hundred day simple moving average of $12.85. The company has a current ratio of 1.92, a quick ratio of 1.42 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 87.31 and a beta of 0.99. Select Water Solutions has a 12-month low of $7.82 and a 12-month high of $18.50.

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

Select Water Solutions Announces Dividend

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

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.