Select Water Solutions (NYSE:WTTR) Sees Unusually-High Trading Volume – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR) shares saw unusually-strong trading volume on Wednesday . Approximately 2,063,311 shares changed hands during trading, an increase of 23% from the previous session’s volume of 1,673,509 shares.The stock last traded at $19.47 and had previously closed at $19.98.

Wall Street Analysts Forecast Growth

WTTR has been the subject of several analyst reports. Wall Street Zen downgraded Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Piper Sandler raised their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Zacks Research raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Finally, Bank of America began coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $22.40.

Select Water Solutions Stock Performance

The stock has a market cap of $2.48 billion, a PE ratio of 85.57 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The stock has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $14.88.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. During the same period in the previous year, the company posted $0.08 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts predict that Select Water Solutions, Inc. will post 0.45 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were issued a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.6%. Select Water Solutions’s dividend payout ratio (DPR) is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer directly owned 114,752 shares in the company, valued at $1,955,374.08. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares of the company’s stock, valued at $1,341,371.72. The trade was a 38.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Select Water Solutions

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after purchasing an additional 2,786,172 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Select Water Solutions by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock valued at $100,220,000 after buying an additional 185,821 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Select Water Solutions by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company’s stock valued at $67,319,000 after buying an additional 15,800 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Select Water Solutions by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after buying an additional 705,612 shares during the period. Finally, American Century Companies Inc. lifted its position in 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 worth $41,687,000 after acquiring an additional 238,898 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Company Profile

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.