Select Water Solutions (NYSE:WTTR) Issues Earnings Results

Select Water Solutions (NYSE:WTTR) announced its quarterly earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02, Zacks reports. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS.

Select Water Solutions Stock Up 4.0%

NYSE:WTTR traded up $0.67 during mid-day trading on Tuesday, hitting $17.28. 1,488,221 shares of the company’s stock were exchanged, compared to its average volume of 2,000,931. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.57 and a quick ratio of 1.42. The company has a market cap of $2.10 billion, a PE ratio of 82.28 and a beta of 0.99. Select Water Solutions has a one year low of $7.20 and a one year high of $17.36. The business has a fifty day moving average price of $14.90 and a 200 day moving average price of $12.59.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.6%. Select Water Solutions’s payout ratio is presently 133.33%.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of Select Water Solutions stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the transaction, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Select Water Solutions in the third quarter worth about $29,000. Osaic Holdings Inc. raised 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 buying an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings 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 worth $60,000 after buying an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after purchasing an additional 5,847 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Thursday, February 19th. Citigroup raised their price target on shares of Select Water Solutions from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Piper Sandler raised their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.00.

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.