Select Water Solutions (NYSE:WTTR) Stock Breaks Above 50 Day Moving Average - Here's Why

Key Points

• Select Water Solutions shares broke above their 50-day moving average, reaching $20.16 before trading near $19.88; the stock’s 50-day and 200-day averages are $19.65 and $17.24, respectively.
• Analyst sentiment is broadly positive, with seven Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $24.57.
• The company exceeded quarterly expectations, reporting $0.17 in adjusted earnings per share versus $0.13 expected and $395.81 million in revenue, up 8.7% year over year; institutional investors own approximately 81.73% of the stock.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $19.65 and traded as high as $20.16. Select Water Solutions shares last traded at $19.8820, with a volume of 1,297,465 shares.

Analyst Upgrades and Downgrades

WTTR has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a report on Friday, October 2nd. JPMorgan Chase & Co. began coverage on shares of Select Water Solutions in a report on Friday, August 21st. They set an "overweight" rating and a $24.00 target price on the stock. Raymond James Financial lowered shares of Select Water Solutions from a "strong-buy" rating to an "outperform" rating and boosted their target price for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. TD Cowen cut shares of Select Water Solutions to a "neutral" rating in a research report on Friday, August 21st. Finally, Zacks Research downgraded shares of Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Select Water Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $24.57.

Select Water Solutions Price Performance

The company has a fifty day simple moving average of $19.65 and a 200 day simple moving average of $17.24. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 71.01 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.40 and a current ratio of 1.58.

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

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of Select Water Solutions by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 285,084 shares of the company's stock worth $5,696,000 after acquiring an additional 82,902 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Select Water Solutions by 37.3% in the 2nd quarter. NewEdge Advisors LLC now owns 306,424 shares of the company's stock valued at $6,122,000 after purchasing an additional 83,296 shares during the period. Sei Investments Co. lifted its stake in shares of Select Water Solutions by 100.0% in the 1st quarter. Sei Investments Co. now owns 422,854 shares of the company's stock valued at $6,470,000 after purchasing an additional 211,421 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Select Water Solutions by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company's stock valued at $100,220,000 after purchasing an additional 185,821 shares in the last quarter. Finally, Ranger Investment Management L.P. bought a new stake in shares of Select Water Solutions during the 2nd quarter valued at about $4,791,000. 81.73% of the stock is owned by institutional investors.

About Select Water Solutions

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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