Select Water Solutions (NYSE:WTTR) Shares Up 11.5% - Here's Why

Key Points

• Select Water Solutions (NYSE:WTTR) saw its stock price increase by 11.5%, trading as high as $10.98 following positive brokerage reports and increased trading volume.
• Analysts maintain a mostly positive outlook, with a target price of $15.00 and ratings ranging from Strong Buy to Hold.
• The company recently declared a quarterly dividend of $0.07 per share, resulting in an annualized yield of 2.4%, despite a payout ratio of over 90%.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report)'s stock price shot up 11.5% during mid-day trading on Wednesday . The stock traded as high as $10.98 and last traded at $11.26. 1,703,441 shares were traded during trading, an increase of 39% from the average session volume of 1,222,766 shares. The stock had previously closed at $10.10.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WTTR. Piper Sandler began coverage on Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Select Water Solutions currently has an average rating of "Buy" and an average target price of $15.00.

Select Water Solutions Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 2.01. The company has a 50 day moving average price of $9.25 and a 200 day moving average price of $8.99. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 37.11 and a beta of 1.24.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million during the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Equities research analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Select Water Solutions's payout ratio is 90.32%.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds have recently added to or reduced their stakes in WTTR. State of Wyoming boosted its stake in shares of Select Water Solutions by 34.1% in the 1st quarter. State of Wyoming now owns 5,932 shares of the company's stock worth $62,000 after buying an additional 1,509 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company's stock worth $28,000 after buying an additional 1,610 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Select Water Solutions by 10.4% in the 2nd quarter. Profund Advisors LLC now owns 17,730 shares of the company's stock worth $153,000 after buying an additional 1,663 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Select Water Solutions by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 48,603 shares of the company's stock worth $510,000 after buying an additional 1,822 shares during the last quarter. Finally, Osaic Holdings Inc. boosted 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 worth $42,000 after buying an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.