Select Water Solutions (NYSE:WTTR) Trading Down 4.5% - Time to Sell?

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) dropped 4.5% during trading on Monday . The company traded as low as $9.23 and last traded at $9.20. Approximately 302,367 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,099,726 shares. The stock had previously closed at $9.63.

Analysts Set New Price Targets

WTTR has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Raymond James Financial lowered their price target on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler assumed coverage on Select Water Solutions in a report on Tuesday. They issued an "overweight" rating and a $15.00 price target for the company. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $14.88.

Select Water Solutions Stock Up 2.0%

The firm has a fifty day simple moving average of $8.79 and a 200-day simple moving average of $10.32. The company has a market capitalization of $1.13 billion, a P/E ratio of 27.76 and a beta of 1.20. The company has a quick ratio of 1.67, a current ratio of 1.83 and a debt-to-equity ratio of 0.27.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The business had revenue of $374.38 million during the quarter, compared to the consensus estimate of $360.78 million. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. Select Water Solutions's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.97%. Select Water Solutions's payout ratio is presently 82.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after purchasing an additional 1,525 shares in the last quarter. State of Wyoming grew its stake in Select Water Solutions by 34.1% in the first quarter. State of Wyoming now owns 5,932 shares of the company's stock valued at $62,000 after purchasing an additional 1,509 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Select Water Solutions by 5,584.0% in the first 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 in the last quarter. Apollon Wealth Management LLC bought a new position in Select Water Solutions in the first quarter valued at approximately $113,000. Finally, Amundi grew its stake in Select Water Solutions by 83.8% in the fourth quarter. Amundi now owns 9,010 shares of the company's stock valued at $119,000 after purchasing an additional 4,109 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

About Select Water Solutions

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.