Select Water Solutions (NYSE:WTTR) Issues Earnings Results, Beats Estimates By $0.04 EPS

Select Water Solutions (NYSE:WTTR) posted its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04, FiscalAI reports. The firm had revenue of $395.81 million for the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a return on equity of 3.22% and a net margin of 2.24%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS.

Select Water Solutions Price Performance

NYSE WTTR traded down $1.28 on Thursday, reaching $20.98. The company’s stock had a trading volume of 882,607 shares, compared to its average volume of 1,717,280. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $22.55. 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’s 50 day moving average is $18.98 and its two-hundred day moving average is $16.31. The stock has a market cap of $2.90 billion, a PE ratio of 74.79 and a beta of 0.99.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling at Select Water Solutions

In related news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 71,578 shares in the company, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction that occurred 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 transaction, the director owned 43,315 shares in the company, valued at approximately $727,692. This trade represents a 38.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Select Water Solutions

Large investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Select Water Solutions by 0.6% in the fourth quarter. Barclays PLC now owns 147,581 shares of the company’s stock valued at $1,553,000 after buying an additional 857 shares during the period. Inspire Investing LLC lifted its position in shares of Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock worth $581,000 after acquiring an additional 1,023 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Select Water Solutions by 2.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after purchasing an additional 1,541 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Select Water Solutions by 10.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock valued at $186,000 after purchasing an additional 1,692 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of Select Water Solutions by 59.9% in 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 in the last quarter. 81.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WTTR. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Piper Sandler raised their target price 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. Bank of America initiated coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Citigroup upped their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Select Water Solutions has an average rating of “Moderate Buy” and an average target price of $22.80.

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.