Select Water Solutions (NYSE:WTTR) Hits New 12-Month High – What’s Next?

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $20.18 and last traded at $20.0280, with a volume of 1899938 shares traded. The stock had previously closed at $19.56.

Analyst Ratings Changes

WTTR has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Raymond James Financial restated 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. Finally, Piper Sandler increased their target price on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Select Water Solutions currently has an average rating of “Buy” and an average target price of $22.50.

Select Water Solutions Trading Down 1.4%

The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.71 billion, a PE ratio of 93.46 and a beta of 0.99. The firm has a 50-day simple moving average of $16.05 and a 200-day simple moving average of $13.18.

Select Water Solutions (NYSE:WTTR) last issued 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. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Select Water Solutions, Inc. will post 0.29 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Insiders Place Their Bets

In related 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 owned 43,315 shares in the company, valued at approximately $727,692. This trade represents a 38.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 owned 360,738 shares in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in WTTR. Franklin Resources Inc. raised its position in shares of Select Water Solutions by 56.4% in the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after buying an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. raised its position in Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after purchasing an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. raised its position in Select Water Solutions by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock valued at $19,258,000 after purchasing an additional 997,847 shares in the last quarter. Millennium Management LLC raised its position in Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares in the last quarter. Finally, Encompass Capital Advisors LLC raised its position in Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock valued at $32,810,000 after purchasing an additional 746,534 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

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.