Select Water Solutions (NYSE:WTTR) Trading Down 6.6% – Time to Sell?

Shares of Select Water Solutions, Inc. (NYSE:WTTR) fell 6.6% on Monday . The stock traded as low as $18.72 and last traded at $18.8290. Approximately 847,854 shares were traded during trading, a decline of 50% from the average session volume of 1,684,017 shares. The stock had previously closed at $20.17.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WTTR shares. Citigroup boosted their price objective 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. Zacks Research cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Bank of America began coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Select Water Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Stock Performance

The stock has a 50-day moving average price of $19.08 and a 200 day moving average price of $15.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 89.53 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. As a group, analysts anticipate that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Select Water Solutions’s dividend payout ratio is currently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares in the company, valued at $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Skarke sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the completion of the transaction, the chief operating officer owned 380,738 shares in the company, valued at $6,590,574.78. This represents a 19.12% 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 in the last quarter. 6.20% of the stock is owned by insiders.

Institutional Trading of Select Water Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of WTTR. Barclays PLC grew its position in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock valued at $1,553,000 after acquiring an additional 857 shares during the period. Inspire Investing LLC boosted its position in Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after purchasing an additional 1,023 shares in the last quarter. ProShare Advisors LLC increased its position in Select Water Solutions by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after buying an additional 1,336 shares in the last quarter. Quantinno Capital Management LP lifted its position in Select Water Solutions by 3.5% during the 1st quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock worth $645,000 after acquiring an additional 1,438 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in Select Water Solutions by 2.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock valued at $686,000 after acquiring an additional 1,541 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

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.