Select Water Solutions, Inc. $WTTR Stock Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management increased its Select Water Solutions stake by 30.4% in the third quarter, purchasing 310,000 shares and bringing its holdings to 1.33 million shares valued at approximately $26.3 million.
• Institutional ownership remains high at 81.73%, with several other funds initiating or expanding positions in WTTR during recent quarters.
• Analyst sentiment is mixed but still favorable, with a consensus “Moderate Buy” rating and an average price target of $24.57; the company also exceeded quarterly earnings and revenue expectations.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,330,000 shares of the company's stock after buying an additional 310,000 shares during the quarter. Select Water Solutions accounts for 1.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 26th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.96% of Select Water Solutions worth $26,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WTTR. USA Financial Formulas purchased a new position in Select Water Solutions during the third quarter worth about $49,000. Public Employees Retirement System of Ohio purchased a new stake in Select Water Solutions in the 2nd quarter valued at about $54,000. Nykredit A S purchased a new stake in Select Water Solutions in the 2nd quarter valued at about $62,000. State of Alaska Department of Revenue lifted its position in shares of Select Water Solutions by 41.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,381 shares of the company's stock worth $86,000 after buying an additional 1,275 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Select Water Solutions in the 1st quarter worth approximately $164,000. Hedge funds and other institutional investors own 81.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WTTR. TD Cowen lowered Select Water Solutions to a "neutral" rating in a report on Friday, August 21st. Zacks Research lowered Select Water Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen lowered Select Water Solutions from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research report on Friday, October 2nd. Finally, Raymond James Financial downgraded Select Water Solutions from a "strong-buy" rating to an "outperform" rating and upped their price objective for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.57.

Select Water Solutions Trading Up 2.9%

Shares of WTTR stock opened at $18.67 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40. Select Water Solutions, Inc. has a 1 year low of $9.28 and a 1 year high of $22.55. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 66.68 and a beta of 1.01. The company's fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $17.16.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $395.81 million during the quarter, compared to the consensus estimate of $373.33 million. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, analysts anticipate that Select Water Solutions, Inc. will post 0.58 earnings per share for the current year.

Select Water Solutions Profile

Select Water Solutions, Inc provides water management and environmental services to the North American oil and gas industry. The company helps exploration and production companies source, transport, store, treat, recycle and dispose of water used in drilling and hydraulic fracturing operations.

Its services include freshwater sourcing and transfer, produced-water gathering and recycling, water infrastructure construction and management, well testing, and wastewater disposal. Select Water Solutions also provides water-treatment solutions and related equipment designed to support more efficient water use and reduce the environmental impact of oilfield operations.

Formerly known as Select Energy Services, the company adopted the Select Water Solutions name in 2023 to reflect its broader focus on water and environmental services.

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