Select Water Solutions, Inc. (NYSE:WTTR) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Select Water Solutions has a consensus analyst rating of "Moderate Buy", with seven firms covering the stock and an average 12-month price target of $22.40.
• The company recently reported better-than-expected quarterly results, earning $0.08 per share versus estimates of $0.06 and generating $365.96 million in revenue, also above forecasts.
• Insider activity has been mixed but leaned toward selling, with directors and executives selling 222,010 shares worth about $3.93 million over the last 90 days, while institutional investors still hold 81.73% of the stock.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.40.

WTTR has been the subject of a number of analyst reports. Citigroup lifted their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Bank of America began coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a "buy" rating and a $22.00 price objective for the company. Northland Securities set a $21.00 target price on Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Select Water Solutions from a "hold" rating to a "buy" rating in a report on Saturday.

Insider Buying and Selling

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the transaction, the director directly owned 71,578 shares of the company's stock, valued at $1,341,371.72. The trade was a 38.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the transaction, the chief accounting officer directly owned 114,752 shares in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,010 shares of company stock valued at $3,925,971 in the last 90 days. Insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Select Water Solutions by 56.4% during the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company's stock worth $81,278,000 after buying an additional 2,786,172 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Select Water Solutions by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company's stock valued at $100,220,000 after acquiring an additional 185,821 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company's stock valued at $54,802,000 after acquiring an additional 705,612 shares during the last quarter. State Street Corp increased its position in shares of Select Water Solutions by 15.1% during the fourth quarter. State Street Corp now owns 3,246,517 shares of the company's stock valued at $34,153,000 after acquiring an additional 426,822 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company's stock worth $32,810,000 after acquiring an additional 746,534 shares during the period. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Stock Up 0.7%

Shares of NYSE WTTR opened at $20.48 on Tuesday. The stock has a market capitalization of $2.83 billion, a P/E ratio of 97.51 and a beta of 0.98. The company has a 50-day moving average price of $18.90 and a 200-day moving average price of $15.62. Select Water Solutions has a 1 year low of $7.86 and a 1 year high of $20.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.08 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 during the quarter, compared to the consensus estimate of $344.63 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Select Water Solutions will post 0.46 EPS for the current fiscal year.

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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