Select Water Solutions (NYSE:WTTR) Shares Down 6.6% – What’s Next?

Select Water Solutions, Inc. (NYSE:WTTR) fell 6.6% during mid-day trading on Monday . The company traded as low as $18.72 and last traded at $18.8290. 847,854 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,684,017 shares. The stock had previously closed at $20.17.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WTTR shares. Piper Sandler lifted their price objective 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. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Citigroup raised their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Select Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Select Water Solutions Stock Performance

The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $19.08 and its 200 day simple moving average is $15.89. The firm has a market cap of $2.60 billion, a PE ratio of 89.53 and a beta of 0.98.

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, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $365.96 million for 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 company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. On average, research analysts forecast that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer directly owned 360,738 shares in the company, valued at $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,010 shares of company stock worth $3,925,971. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Select Water Solutions by 10.1% in the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after purchasing an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC increased its position in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after purchasing an additional 802,833 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after acquiring an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

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.