Select Water Solutions (NYSE:WTTR) Hits New 52-Week High – What’s Next?

Select Water Solutions, Inc. (NYSE:WTTR)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.05 and last traded at $16.01, with a volume of 900936 shares traded. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

WTTR has been the topic of several research analyst reports. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday, February 19th. Piper Sandler boosted their price objective on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Citigroup upped their target price on Select Water Solutions from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Select Water Solutions has a consensus rating of “Buy” and an average target price of $17.00.

Select Water Solutions Stock Performance

The firm has a market cap of $1.95 billion, a P/E ratio of 76.62 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $14.34 and its two-hundred day moving average is $12.24.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.21). The company had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.26 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction dated 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 $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after buying an additional 2,786,172 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Select Water Solutions by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,364,488 shares of the company’s stock worth $66,955,000 after purchasing an additional 58,875 shares during the last quarter. Vanguard Group Inc. grew its stake in Select Water Solutions by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock valued at $67,319,000 after purchasing an additional 15,800 shares during the period. Wellington Management Group LLP grew its stake 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 valued at $54,802,000 after purchasing an additional 705,612 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Select Water Solutions by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 3,899,603 shares of the company’s stock valued at $41,687,000 after purchasing an additional 238,898 shares during the last quarter. 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.