Select Water Solutions, Inc. (NYSE:WTTR) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Select Water Solutions has a consensus analyst rating of "Buy" from seven firms, with an average 1-year price target of $22.40.
• The company reported better-than-expected quarterly results, posting EPS of $0.08 versus estimates of $0.06 and revenue of $365.96 million versus expectations of $344.63 million.
• Shares were up 4.2% to $19.17, while recent insider selling and high institutional ownership were also noted; institutions own 81.73% of the stock.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $22.40.

A number of research firms have recently commented on WTTR. Zacks Research upgraded Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 25th. Piper Sandler lifted 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. Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Bank of America assumed coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a "buy" rating and a $22.00 target price on the stock. Finally, Wall Street Zen lowered shares of Select Water Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th.

Insider Transactions at Select Water Solutions

In related news, COO Michael Skarke sold 90,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the transaction, the chief operating officer directly owned 380,738 shares in the company, valued at $6,590,574.78. The trade was a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Alan Burnett sold 45,316 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the transaction, the director owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently bought and sold shares of WTTR. Wilmington Savings Fund Society FSB bought a new stake in Select Water Solutions in the 3rd quarter valued at $29,000. Osaic Holdings Inc. grew its stake in shares of Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock valued at $42,000 after purchasing an additional 1,830 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after purchasing an additional 5,408 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Select Water Solutions by 5,584.0% in 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, Tower Research Capital LLC TRC grew its stake in shares of Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock valued at $77,000 after purchasing an additional 5,847 shares during the period. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Trading Up 4.2%

NYSE:WTTR opened at $19.17 on Friday. Select Water Solutions has a 12 month low of $7.86 and a 12 month high of $20.48. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 91.27 and a beta of 1.00. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $17.89 and its 200-day moving average is $14.59.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. Equities analysts anticipate that Select Water Solutions will post 0.38 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Select Water Solutions's payout ratio is 133.33%.

Select Water Solutions Company Profile

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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