Select Water Solutions (NYSE:WTTR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Select Water Solutions from hold to buy, adding to a generally positive analyst backdrop for the stock. The consensus rating is now a Buy with an average price target of $21.25.
• The company beat expectations in its latest quarter, reporting EPS of $0.08 versus estimates of $0.06 and revenue of $365.96 million versus $344.63 million expected. However, revenue was still down 2.2% year over year.
• Insider selling has been notable, with Director Robin H. Fielder and CAO Brian Szymanski both selling shares recently, and insiders selling 157,010 shares over the last 90 days. Institutional investors continue to hold the majority of the stock, owning 81.73%.

Select Water Solutions (NYSE:WTTR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other brokerages also recently issued reports on WTTR. Piper Sandler boosted 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. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Citigroup lifted their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $21.25.

Select Water Solutions Stock Up 1.6%

Shares of NYSE WTTR opened at $18.89 on Friday. The company has a market capitalization of $2.61 billion, a P/E ratio of 89.95 and a beta of 0.99. Select Water Solutions has a 52-week low of $7.82 and a 52-week high of $19.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.92. The company's 50 day moving average price is $15.58 and its 200-day moving average price is $12.94.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. Equities analysts forecast that Select Water Solutions will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Szymanski sold 20,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the sale, the chief accounting officer owned 114,752 shares of the company's stock, valued at $1,955,374.08. This trade represents a 14.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 157,010 shares of company stock worth $2,708,068. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Select Water Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company's stock valued at $1,553,000 after purchasing an additional 857 shares in the last quarter. Inspire Investing LLC increased its stake in Select Water Solutions by 1.9% during the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company's stock valued at $581,000 after purchasing an additional 1,023 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of 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 acquiring an additional 1,336 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Select Water Solutions by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company's stock worth $686,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Legato Capital Management LLC grew its stake in shares of Select Water Solutions by 1.7% in the 3rd quarter. Legato Capital Management LLC now owns 97,358 shares of the company's stock worth $1,041,000 after acquiring an additional 1,587 shares in the last quarter. Institutional investors own 81.73% of the company's stock.

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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