Select Water Solutions (NYSE:WTTR) Coverage Initiated by Analysts at Northland Securities

Investment analysts at Northland Securities began coverage on shares of Select Water Solutions (NYSE:WTTR - Get Free Report) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a "market perform" rating and a $11.50 price target on the stock. Northland Securities' price objective would indicate a potential upside of 24.06% from the stock's previous close.

Select Water Solutions Stock Down 0.7 %

Shares of NYSE WTTR traded down $0.07 during trading hours on Monday, reaching $9.27. 975,933 shares of the stock traded hands, compared to its average volume of 1,150,984. Select Water Solutions has a 52-week low of $6.78 and a 52-week high of $9.74. The company has a market capitalization of $1.10 billion, a P/E ratio of 12.70 and a beta of 1.66. The company's 50-day simple moving average is $8.83 and its two-hundred day simple moving average is $7.92.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.11. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The firm had revenue of $374.90 million for the quarter, compared to analysts' expectations of $378.12 million. During the same quarter last year, the company earned $0.07 EPS. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Select Water Solutions will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the transaction, the senior vice president now owns 255,587 shares of the company's stock, valued at $2,205,715.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Nick L. Swyka sold 9,009 shares of Select Water Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total value of $77,026.95. Following the transaction, the chief financial officer now directly owns 272,140 shares in the company, valued at approximately $2,326,797. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher Kile George sold 23,000 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the sale, the senior vice president now owns 255,587 shares of the company's stock, valued at approximately $2,205,715.81. The disclosure for this sale can be found here. Insiders have sold 46,511 shares of company stock valued at $398,053 in the last ninety days. 8.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Select Water Solutions

Several hedge funds have recently modified their holdings of the business. Bridge City Capital LLC grew its position in Select Water Solutions by 2.9% during the first quarter. Bridge City Capital LLC now owns 273,698 shares of the company's stock worth $2,526,000 after buying an additional 7,777 shares during the period. Quadrature Capital Ltd purchased a new position in Select Water Solutions in the 4th quarter valued at approximately $156,000. Wellington Management Group LLP raised its holdings in Select Water Solutions by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company's stock worth $35,666,000 after purchasing an additional 145,714 shares during the last quarter. Palogic Value Management L.P. boosted its position in Select Water Solutions by 28.2% during the fourth quarter. Palogic Value Management L.P. now owns 341,300 shares of the company's stock worth $2,590,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in Select Water Solutions in the fourth quarter valued at $4,778,000. 81.73% of the stock is owned by institutional investors and hedge funds.

About Select Water Solutions

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.