Select Water Solutions (NYSE:WTTR) Posts Earnings Results, Beats Expectations 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 company had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share.

Select Water Solutions Stock Up 7.2%

Shares of NYSE:WTTR opened at $19.83 on Wednesday. Select Water Solutions has a 52-week low of $7.86 and a 52-week high of $21.67. The company has a fifty day moving average of $18.91 and a 200-day moving average of $16.24. 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 company has a market capitalization of $2.74 billion, a PE ratio of 94.43 and a beta of 0.99.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s payout ratio is presently 133.33%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WTTR. Piper Sandler boosted 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 report on Monday, May 18th. Northland Securities set a $21.00 price target on Select Water Solutions in a research report on Thursday, May 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Wall Street Zen raised Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Citigroup increased their price objective 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. 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. According to MarketBeat.com, Select Water Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Insider Buying and Selling at Select Water Solutions

In other news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the transaction, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the sale, the director owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,010 shares of company stock worth $3,925,971 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors have recently added to or reduced their stakes in WTTR. Barclays PLC boosted its holdings in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after buying an additional 857 shares in the last quarter. Inspire Investing LLC increased its stake 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 valued at $581,000 after acquiring an additional 1,023 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Select Water Solutions by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock valued at $686,000 after acquiring an additional 1,541 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Select Water Solutions by 10.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock valued at $186,000 after acquiring an additional 1,692 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

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.