Select Water Solutions (NYSE:WTTR) Posts Quarterly Earnings Results

Select Water Solutions (NYSE:WTTR) announced its earnings results on Tuesday. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03, Zacks reports. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The company had revenue of $322.24 million during the quarter, compared to analysts’ expectations of $306.39 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis.

Select Water Solutions Stock Up 0.3%

NYSE WTTR traded up $0.04 during trading on Wednesday, reaching $11.72. The company’s stock had a trading volume of 139,451 shares, compared to its average volume of 1,223,703. The stock has a market capitalization of $1.42 billion, a PE ratio of 37.79 and a beta of 1.18. The business has a 50-day moving average price of $10.22 and a 200-day moving average price of $9.28. Select Water Solutions has a 1-year low of $7.20 and a 1-year high of $15.14. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Select Water Solutions’s payout ratio is 90.32%.

Analysts Set New Price Targets

Several brokerages have commented on WTTR. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Tuesday, October 14th. Piper Sandler began coverage on Select Water Solutions in a report on Tuesday, July 15th. They set an “overweight” rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.00.

Institutional Trading of Select Water Solutions

Large investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC bought a new stake in shares of Select Water Solutions during the 2nd quarter worth about $623,000. Clough Capital Partners L P bought a new stake in shares of Select Water Solutions during the 2nd quarter worth about $601,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 purchasing an additional 2,356 shares during the period. Envestnet Asset Management Inc. boosted its stake in Select Water Solutions by 17.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 43,784 shares of the company’s stock valued at $468,000 after purchasing an additional 6,549 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Select Water Solutions by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,812 shares of the company’s stock valued at $430,000 after purchasing an additional 2,046 shares during the period. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.