Select Water Solutions, Inc. (NYSE:WTTR) Receives $23.00 Consensus PT from Analysts

Select Water Solutions, Inc. (NYSE:WTTR) has earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several research firms have weighed in on WTTR. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. TD Cowen cut shares of Select Water Solutions to a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Raymond James Financial lowered shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $26.00 in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th.

Institutional Trading of Select Water Solutions

A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Select Water Solutions during the second quarter valued at approximately $54,000. Nykredit A S acquired a new stake in shares of Select Water Solutions in the 2nd quarter valued at $62,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Select Water Solutions in the 4th quarter valued at $109,000. OMERS ADMINISTRATION Corp bought a new position in shares of Select Water Solutions in the 1st quarter valued at $164,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Select Water Solutions in the 4th quarter valued at $144,000. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Up 3.0%

WTTR stock opened at $20.66 on Wednesday. Select Water Solutions has a 1-year low of $9.07 and a 1-year high of $22.55. The firm has a market capitalization of $2.86 billion, a PE ratio of 73.78 and a beta of 1.01. The business’s 50 day simple moving average is $19.96 and its 200 day simple moving average is $17.88. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17.

Select Water Solutions (NYSE:WTTR) last posted its earnings results 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. The company had revenue of $395.81 million during the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. Select Water Solutions’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. As a group, research analysts anticipate that Select Water Solutions will post 0.59 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 7th. Select Water Solutions’s dividend payout ratio (DPR) is 100.00%.

About Select Water Solutions

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and gas industry. Its services include water sourcing, transfer, recycling, treatment, storage, and disposal, supporting hydraulic fracturing, drilling, completions, and production operations. The company also provides water infrastructure services and oilfield chemical products and solutions.

The company operates through its Water Services, Water Infrastructure, and Chemical Technologies businesses.