Select Water Solutions (NYSE:WTTR) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Select Water Solutions (NYSE:WTTR) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Bank of America increased their target price on shares of Select Water Solutions from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Monday, July 6th. TD Cowen downgraded Select Water Solutions to a “neutral” rating in a research note on Friday, August 21st. UBS Group reiterated a “buy” rating and set a $28.00 target price on shares of Select Water Solutions in a report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. initiated coverage on Select Water Solutions in a research note on Friday, August 21st. They issued an “overweight” rating and a $24.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Select Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Select Water Solutions Stock Performance

Shares of Select Water Solutions stock opened at $20.09 on Friday. The firm has a fifty day moving average of $19.98 and a two-hundred day moving average of $18.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.40 and a current ratio of 1.58. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 71.74 and a beta of 1.01. Select Water Solutions has a 52 week low of $9.28 and a 52 week high of $22.55.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The business had revenue of $395.81 million for the quarter, compared to analyst estimates of $373.33 million. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Select Water Solutions will post 0.59 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $0.07 dividend. 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 is 100.00%.

Institutional Trading of Select Water Solutions

A number of hedge funds have recently modified their holdings of WTTR. Encompass Capital Advisors LLC grew its position in Select Water Solutions by 31.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after acquiring an additional 746,534 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Select Water Solutions in the first quarter valued at about $6,426,000. Aventail Capital Group LP bought a new position in Select Water Solutions in the fourth quarter valued at about $3,608,000. Ranger Investment Management L.P. acquired a new stake in shares of Select Water Solutions during the second quarter valued at about $4,791,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Select Water Solutions by 218,652.9% during the first quarter. NewEdge Advisors LLC now owns 223,128 shares of the company’s stock worth $3,414,000 after purchasing an additional 223,026 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and natural gas industry. Its services support drilling, completions, production and infrastructure operations, with an emphasis on sourcing, transferring, treating, recycling and disposing of water used in energy production.

The company’s offerings include water sourcing and transfer, water recycling and treatment, fluid management, pipeline and infrastructure services, and related logistics.