Select Water Solutions (NYSE:WTTR) Trading 4.1% Higher – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR)’s share price rose 4.1% during trading on Tuesday . The company traded as high as $20.05 and last traded at $20.3020. 98,938 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,673,391 shares. The stock had previously closed at $19.50.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WTTR. 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 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. Zacks Research lowered shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup upped their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial downgraded shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Select Water Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Select Water Solutions Stock Performance

The company’s 50-day moving average is $19.63 and its two-hundred day moving average is $17.33. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.78 billion, a P/E ratio of 71.64 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The company had revenue of $395.81 million during the quarter, compared to the consensus estimate of $373.33 million. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.59 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued 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 Friday, August 7th. Select Water Solutions’s payout ratio is presently 100.00%.

Hedge Funds Weigh In On Select Water Solutions

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in shares of Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after acquiring an additional 2,786,172 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Select Water Solutions by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock worth $100,220,000 after acquiring an additional 185,821 shares during the last quarter. Wellington Management Group LLP increased its stake in Select Water Solutions by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after purchasing an additional 705,612 shares during the period. State Street Corp increased its stake in Select Water Solutions by 15.1% in the 4th quarter. State Street Corp now owns 3,246,517 shares of the company’s stock worth $34,153,000 after purchasing an additional 426,822 shares during the period. Finally, Encompass Capital Advisors LLC lifted its position in Select Water Solutions by 31.5% in 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 during 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.