Select Water Solutions (NYSE:WTTR) Trading 5.7% Higher – Here’s Why

Shares of Select Water Solutions, Inc. (NYSE:WTTR) were up 5.7% during trading on Tuesday . The company traded as high as $11.98 and last traded at $11.9190. Approximately 175,451 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 624,303 shares. The stock had previously closed at $11.28.

Analysts Set New Price Targets

WTTR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday. Northland Capmk cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Raymond James Financial reissued a “strong-buy” rating and set a $16.00 price objective on shares of Select Water Solutions in a report on Wednesday, November 5th. Finally, Piper Sandler set a $14.00 target price on Select Water Solutions in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Select Water Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Select Water Solutions Trading Up 3.2%

The company has a market cap of $1.41 billion, a P/E ratio of 61.26 and a beta of 0.98. The firm’s 50 day moving average is $10.69 and its two-hundred day moving average is $10.00. The company has a quick ratio of 1.48, a current ratio of 1.64 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Wednesday, November 5th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.The firm had revenue of $322.24 million for the quarter, compared to the consensus estimate of $306.39 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, November 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, November 7th. Select Water Solutions’s dividend payout ratio is currently 147.37%.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 211,118 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $11.15, for a total value of $2,353,965.70. Following the transaction, the chief executive officer owned 32,687 shares in the company, valued at approximately $364,460.05. The trade was a 86.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 443,187 shares of company stock worth $4,927,971. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Select Water Solutions

A number of institutional investors have recently bought and sold shares of WTTR. Farther Finance Advisors LLC grew its holdings in Select Water Solutions by 160.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after acquiring an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Select Water Solutions during the 3rd quarter valued at about $29,000. State of Alaska Department of Revenue acquired a new stake in Select Water Solutions during the third quarter worth approximately $33,000. Osaic Holdings Inc. increased its holdings in Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares during the period. Institutional investors own 81.73% of the company’s stock.

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.