Select Water Solutions (NYSE:WTTR) Hits New 12-Month High - Time to Buy?

Key Points

• Select Water Solutions hit a new 52-week high, trading as high as $20.89 as investor interest pushed the stock up about 0.7% on the day.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $22.40, though Zacks recently downgraded the stock to hold.
• The company recently beat earnings expectations, reporting $0.08 EPS versus the $0.06 estimate and $365.96 million in revenue, while insiders have also been selling shares in recent months.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.89 and last traded at $20.4780, with a volume of 2153369 shares changing hands. The stock had previously closed at $20.33.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WTTR. Bank of America started coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a "buy" rating and a $22.00 price objective on the stock. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Zacks Research lowered Select Water Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Citigroup lifted their price target on Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. 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 company. According to MarketBeat, Select Water Solutions currently has a consensus rating of "Moderate Buy" and an average target price of $22.40.

Select Water Solutions Stock Up 0.7%

The business's fifty day moving average price is $18.90 and its two-hundred day moving average price is $15.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market capitalization of $2.83 billion, a P/E ratio of 97.51 and a beta of 0.98.

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 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 firm had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter in the previous year, the business posted $0.08 EPS. Select Water Solutions's revenue was down 2.2% on a year-over-year basis. Equities analysts expect that Select Water Solutions, Inc. will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robin H. Fielder sold 27,010 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director directly owned 43,315 shares of the company's stock, valued at $727,692. This represents a 38.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares of the company's stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Select Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions during the 3rd quarter worth approximately $29,000. Osaic Holdings Inc. grew its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock valued at $42,000 after buying an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after buying an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp increased its position 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 acquiring an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC increased its position 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 acquiring an additional 5,847 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

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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