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

Key Points

• Select Water Solutions has a “Moderate Buy” consensus rating from seven analysts, with five buys and two holds. The average 12-month price target is $22.80.
• The company beat quarterly expectations, reporting $0.17 in EPS versus the $0.13 consensus and revenue of $395.81 million versus estimates of $373.33 million; revenue increased 8.7% year over year.
• WTTR shares recently traded at $20.82, while institutional investors own 81.73% of the stock. Select Water Solutions also declared a $0.07 quarterly dividend, equivalent to a 1.3% annualized yield.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) has earned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.80.

Several analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. Raymond James Financial downgraded Select Water Solutions from a "strong-buy" rating to an "outperform" rating and increased their target price for the company from $24.00 to $26.00 in a report on Thursday, August 6th. Zacks Research cut Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Bank of America initiated coverage on Select Water Solutions in a research note on Friday, May 29th. They set a "buy" rating and a $22.00 price target for the company. Finally, Citigroup upped their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company's stock worth $1,553,000 after acquiring an additional 857 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company's stock worth $581,000 after purchasing an additional 1,023 shares in the last quarter. ProShare Advisors LLC raised its holdings in Select Water Solutions by 8.4% in the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company's stock worth $182,000 after purchasing an additional 1,336 shares during the period. Quantinno Capital Management LP raised its holdings in Select Water Solutions by 3.5% in the 1st quarter. Quantinno Capital Management LP now owns 42,180 shares of the company's stock worth $645,000 after purchasing an additional 1,438 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in Select Water Solutions by 2.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company's stock valued at $686,000 after purchasing an additional 1,541 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Trading Up 2.2%

Shares of WTTR stock opened at $20.82 on Friday. Select Water Solutions has a 12-month low of $7.86 and a 12-month high of $22.55. The company has a current ratio of 1.58, a quick ratio of 1.76 and a debt-to-equity ratio of 0.17. The firm's 50 day moving average is $19.29 and its 200 day moving average is $16.71. The stock has a market capitalization of $2.88 billion, a P/E ratio of 74.35 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $395.81 million during the quarter, compared to analyst estimates of $373.33 million. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Research analysts expect that Select Water Solutions will post 0.56 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 7th. Select Water Solutions's payout ratio is 100.00%.

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.

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