Select Water Solutions (NYSE:WTTR) Hits New 52-Week High – Here’s What Happened

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $18.62 and last traded at $18.58, with a volume of 27117 shares trading hands. The stock had previously closed at $18.34.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler lifted their target price on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $21.25.

Select Water Solutions Trading Up 1.4%

The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 88.39 and a beta of 0.99. The firm has a 50-day moving average price of $15.37 and a 200-day moving average price of $12.85. The company has a current ratio of 1.92, a quick ratio of 1.42 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Buying and Selling

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 value of $453,768.00. Following the transaction, the director owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 157,010 shares of company stock worth $2,708,068 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Water Solutions during the third quarter worth $29,000. State of Alaska Department of Revenue purchased a new position in Select Water Solutions in the 3rd quarter worth about $33,000. Osaic Holdings Inc. increased its stake in Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after buying an additional 5,408 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the period. 81.73% of the stock is currently 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.