Select Water Solutions (NYSE:WTTR) Hits New 12-Month High – Time to Buy?

Shares of Select Water Solutions, Inc. (NYSE:WTTR) hit a new 52-week high on Tuesday . The company traded as high as $20.89 and last traded at $20.4780, with a volume of 2153369 shares trading hands. The stock had previously closed at $20.33.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup lifted their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Bank of America assumed coverage on shares of Select Water Solutions in a report on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Select Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Select Water Solutions Price Performance

The firm has a market cap of $2.83 billion, a PE ratio of 97.51 and a beta of 0.98. The stock has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $15.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In other Select Water Solutions news, COO Michael Skarke sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the completion of the transaction, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. The trade was a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 222,010 shares of company stock valued at $3,925,971. Insiders own 6.20% of the company’s stock.

Institutional Trading of Select Water Solutions

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Select Water Solutions by 10.1% in the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after acquiring an additional 48,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after acquiring an additional 2,356 shares during the period. Millennium Management LLC grew its position in shares of Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after acquiring an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after purchasing an additional 576,660 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.