Select Water Solutions (NYSE:WTTR) Trading 4.1% Higher - What's Next?

Key Points

• Select Water Solutions shares rose 4.1% to about $20.30, although trading volume was 94% below the stock’s average session volume.
• Analyst sentiment remains positive, with six Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $23.00 price target.
• The company exceeded quarterly expectations, reporting $0.17 in EPS versus $0.13 expected and revenue of $395.81 million, up 8.7% year over year. It also maintains a quarterly dividend of $0.07 per share, equivalent to a 1.4% yield.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) shares shot up 4.1% during mid-day trading on Tuesday . The stock traded as high as $20.05 and last traded at $20.3020. Approximately 98,938 shares changed hands during trading, a decline of 94% from the average session volume of 1,673,391 shares. The stock had previously closed at $19.50.

Analyst Upgrades and Downgrades

WTTR has been the topic of a number of analyst reports. Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research report on Monday, July 6th. Citigroup lifted their target price on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Bank of America initiated coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Select Water Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Select Water Solutions Trading Up 2.9%

The business has a fifty day moving average price of $19.63 and a 200-day moving average price of $17.33. The company has a market cap of $2.78 billion, a P/E ratio of 71.64 and a beta of 0.99. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping 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 firm had revenue of $395.81 million for the quarter, compared to analysts' expectations of $373.33 million. During the same quarter last year, the business earned $0.10 EPS. The company's quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that Select Water Solutions, Inc. will post 0.59 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 7th. Select Water Solutions's dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company's stock valued at $5,582,000 after purchasing an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $569,000 after acquiring an additional 2,356 shares during the last quarter. Millennium Management LLC increased its holdings in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company's stock valued at $10,236,000 after purchasing an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its position in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock valued at $75,000 after purchasing an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock worth $12,726,000 after acquiring an additional 576,660 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

About Select Water Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source