Select Water Solutions, Inc. (NYSE:WTTR) Given Consensus Recommendation of “Buy” by Brokerages

Select Water Solutions, Inc. (NYSE:WTTR) has received an average rating of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.40.

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. 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 report on Tuesday, May 12th. Piper Sandler increased their price objective on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Bank of America assumed coverage on Select Water Solutions in a research report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Northland Securities set a $21.00 price objective on Select Water Solutions in a research report on Thursday, May 7th.

Insider Buying and Selling at Select Water Solutions

In other news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the transaction, the director owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction 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 trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions in the 3rd quarter worth $29,000. Osaic Holdings Inc. boosted its position in shares of 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 during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after purchasing an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock worth $77,000 after purchasing an additional 5,847 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Up 4.2%

WTTR opened at $19.17 on Friday. The firm’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $14.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $20.48. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 91.27 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. Equities research analysts anticipate that Select Water Solutions will post 0.38 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

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

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.