Select Water Solutions (NYSE:WTTR) Issues Earnings Results

Select Water Solutions (NYSE:WTTR) released its quarterly earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.21), reports. The firm had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.Select Water Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share.

Select Water Solutions Stock Up 12.8%

WTTR stock traded up $1.70 during mid-day trading on Wednesday, hitting $14.96. 363,564 shares of the company were exchanged, compared to its average volume of 795,437. The company has a market capitalization of $1.81 billion, a PE ratio of 78.37 and a beta of 1.03. The firm has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $10.52. The company has a current ratio of 1.64, a quick ratio of 1.48 and a debt-to-equity ratio of 0.31. Select Water Solutions has a twelve month low of $7.20 and a twelve month high of $15.43.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is currently 147.37%.

Insiders Place Their Bets

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the sale, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 332,250 shares of company stock valued at $3,803,896 over the last three months. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after acquiring an additional 2,786,172 shares during the period. Dimensional Fund Advisors LP increased its position in Select Water Solutions by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,364,488 shares of the company’s stock worth $66,955,000 after buying an additional 58,875 shares during the last quarter. Wellington Management Group LLP raised its holdings in Select Water Solutions by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after acquiring an additional 705,612 shares during the period. State Street Corp lifted its holdings in shares of Select Water Solutions by 15.1% during the fourth quarter. State Street Corp now owns 3,246,517 shares of the company’s stock worth $34,153,000 after buying an additional 426,822 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Select Water Solutions by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,284,929 shares of the company’s stock worth $24,041,000 after buying an additional 36,208 shares in the last quarter. Institutional investors own 81.73% of the company’s stock.

Analyst Ratings Changes

WTTR has been the subject of several analyst reports. Northland Securities downgraded Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Thursday, November 13th. Piper Sandler set a $14.00 price target on Select Water Solutions in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $16.00 price target on shares of Select Water Solutions in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.