Analysts Set Select Water Solutions, Inc. (NYSE:WTTR) PT at $17.00

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have been assigned an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $19.75.

Several brokerages recently commented on WTTR. Citigroup boosted their price objective on shares of Select Water Solutions from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday. Piper Sandler boosted their price objective on shares of Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th.

Select Water Solutions Price Performance

Shares of NYSE:WTTR opened at $17.61 on Thursday. The company has a 50 day moving average of $15.19 and a 200 day moving average of $12.76. The stock has a market cap of $2.14 billion, a P/E ratio of 83.85 and a beta of 0.99. Select Water Solutions has a 12 month low of $7.82 and a 12 month high of $18.50. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.33%. Select Water Solutions’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, sell-side analysts forecast that Select Water Solutions will post 0.29 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.6%. Select Water Solutions’s payout ratio is presently 133.33%.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares in the company, valued at $727,692. The trade was a 38.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Select Water Solutions

Several hedge funds have recently bought and sold shares of WTTR. Franklin Resources Inc. lifted its position in Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Alliancebernstein L.P. lifted 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 during the last quarter. Russell Investments Group Ltd. lifted 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 during the last quarter. Millennium Management LLC lifted 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 during the last quarter. Finally, Encompass Capital Advisors LLC lifted 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 during the last quarter. 81.73% of the stock is currently owned by institutional investors.

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.