Select Water Solutions (NYSE:WTTR) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

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

Select Water Solutions Trading Up 14.9%

Shares of NYSE:WTTR opened at $15.23 on Wednesday. The stock has a market capitalization of $1.84 billion, a PE ratio of 76.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 1.48. Select Water Solutions has a one year low of $7.20 and a one year high of $15.43. The company’s 50-day moving average price is $11.58 and its two-hundred day moving average price is $10.52.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is currently 147.37%.

Insider Activity

In other news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This trade 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 can be accessed through this hyperlink. Insiders have sold a total of 332,250 shares of company stock valued at $3,803,896 over the last three months. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions during the third quarter worth approximately $29,000. Osaic Holdings Inc. grew 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 during the period. CIBC Private Wealth Group LLC increased 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 purchasing an additional 5,408 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after buying an additional 5,847 shares in the last quarter. Institutional investors own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.