Select Water Solutions, Inc. (NYSE:WTTR) Announces $0.07 Quarterly Dividend

Key Points

• Select Water Solutions declared a quarterly dividend of $0.07 per share, payable on August 19 to shareholders of record on August 7. The dividend implies an annualized yield of about 1.3%.
• The company’s dividend appears reasonably covered, with a 35.0% payout ratio; analysts expect earnings of $0.63 per share next year, which would still support the annual dividend.
• WTTR recently beat earnings and revenue expectations for the latest quarter, though the stock was down 2.6% and analysts currently view it as a Moderate Buy with a consensus price target of $22.40.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 7th will be given a dividend of 0.07 per share on Wednesday, August 19th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th.

Select Water Solutions has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Select Water Solutions to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 44.4%.

Select Water Solutions Stock Down 2.6%

WTTR opened at $20.79 on Friday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 98.99 and a beta of 0.98. The firm has a 50 day moving average price of $19.06 and a 200-day moving average price of $15.83. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $21.67. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company had revenue of $365.96 million for the quarter, compared to analysts' expectations of $344.63 million. During the same quarter last year, the company posted $0.08 earnings per share. The firm's quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that Select Water Solutions will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WTTR shares. Zacks Research downgraded Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Bank of America began coverage on Select Water Solutions in a research report on Friday, May 29th. They set a "buy" rating and a $22.00 price objective for the company. Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Select Water Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.40.

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.

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