Select Water Solutions (NYSE:WTTR) Reaches New 12-Month High - What's Next?

Key Points

• 52-week high: Select Water Solutions hit a new 52-week high of $17.04 during mid-day trading and last traded around $16.49 on heavy volume (~1.69M shares).
• Analysts turning positive: Several firms upgraded their views (Piper Sandler, Citigroup, Northland), leaving an average analyst rating of Buy and an average price target of $17.00.
• Fundamentals are mixed: the company reported an EPS miss of ($0.20) versus $0.01 consensus while revenue beat at $346.5M. It also announced a $0.07 quarterly dividend (1.7% yield; 133% payout ratio), an insider sold shares, and institutions now own about 81.7% of the stock.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.04 and last traded at $16.4930, with a volume of 1685951 shares. The stock had previously closed at $16.74.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Citigroup lifted their price target on shares of Select Water Solutions from $16.50 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Finally, Northland Securities upgraded shares of Select Water Solutions from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $17.00.

Select Water Solutions Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.00 billion, a PE ratio of 78.54 and a beta of 0.97. The firm's 50-day simple moving average is $14.64 and its two-hundred day simple moving average is $12.41.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21). Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The firm had revenue of $346.50 million for the quarter, compared to analysts' expectations of $320.85 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.26 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, April 30th. Select Water Solutions's payout ratio is presently 133.33%.

Insiders Place Their Bets

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of Select Water Solutions stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $13.03, for a total transaction of $441,925.48. Following the transaction, the chief executive officer directly owned 249,243 shares in the company, valued at approximately $3,247,636.29. The trade was a 11.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake 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 valued at $81,278,000 after buying an additional 2,786,172 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Select Water Solutions by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,364,488 shares of the company's stock valued at $66,955,000 after buying an additional 58,875 shares during the period. Vanguard Group Inc. boosted its stake in shares of Select Water Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,297,344 shares of the company's stock valued at $67,319,000 after buying an additional 15,800 shares during the period. Wellington Management Group LLP boosted its stake in shares of Select Water Solutions by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company's stock valued at $54,802,000 after buying an additional 705,612 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Select Water Solutions by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 3,899,603 shares of the company's stock valued at $41,687,000 after buying an additional 238,898 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

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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