Select Water Solutions (NYSE:WTTR) Announces Quarterly Earnings Results

Select Water Solutions (NYSE:WTTR) issued its quarterly earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02, Zacks reports. The company 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 2.30% and a net margin of 1.51%.Select Water Solutions’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS.

Select Water Solutions Trading Up 4.0%

Select Water Solutions stock traded up $0.67 during midday trading on Tuesday, reaching $17.28. The stock had a trading volume of 1,488,221 shares, compared to its average volume of 2,000,931. Select Water Solutions has a twelve month low of $7.20 and a twelve month high of $17.36. The stock has a market capitalization of $2.10 billion, a PE ratio of 82.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. The stock’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $12.59.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Select Water Solutions’s dividend payout ratio (DPR) is presently 133.33%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Citigroup boosted their price target on Select Water Solutions from $16.50 to $18.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Piper Sandler boosted their price target on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Thursday, February 19th. One investment 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.00.

Insiders Place Their Bets

In related news, CEO John Schmitz sold 33,916 shares of Select Water Solutions stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.03, for a total value of $441,925.48. Following the transaction, the chief executive officer owned 249,243 shares in the company, valued at approximately $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Select Water Solutions by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,364,488 shares of the company’s stock worth $66,955,000 after acquiring an additional 58,875 shares during the period. Wellington Management Group LLP raised its stake in Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after acquiring an additional 705,612 shares during the period. State Street Corp raised its stake in Select Water Solutions by 15.1% during the fourth quarter. State Street Corp now owns 3,246,517 shares of the company’s stock worth $34,153,000 after acquiring an additional 426,822 shares during the period. Finally, Geode Capital Management LLC raised its stake in Select Water Solutions by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,284,929 shares of the company’s stock worth $24,041,000 after acquiring an additional 36,208 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.