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

Key Points

• Wall Street Zen upgraded Select Water Solutions (NYSE:WTTR) from hold to buy, adding to a generally positive analyst backdrop. The stock now carries a consensus rating of Moderate Buy with a consensus price target of $22.40.
• Recent analyst action has been mixed but mostly constructive: Piper Sandler raised its target to $21 with an overweight rating, while Raymond James kept a strong-buy rating and a $24 target. Zacks Research, however, downgraded the stock to hold.
• Select Water Solutions reported better-than-expected quarterly results, with EPS of $0.08 versus estimates of $0.06 and revenue of $365.96 million topping forecasts. The company also showed solid liquidity and low leverage, while insiders recently sold shares and institutions continue to hold the vast majority of the stock.

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

Several other analysts have also recently issued reports on WTTR. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Piper Sandler boosted their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Weiss Ratings restated a "hold (c)" rating on shares of Select Water Solutions in a research note on Monday, July 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Select Water Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $22.40.

Select Water Solutions Price Performance

Shares of NYSE WTTR opened at $20.32 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions has a fifty-two week low of $7.86 and a fifty-two week high of $20.48. The business has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $15.51. The firm has a market cap of $2.81 billion, a PE ratio of 96.75 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS. Sell-side analysts expect that Select Water Solutions will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the transaction, the chief operating officer owned 360,738 shares of the company's stock, valued at $6,413,921.64. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin H. Fielder sold 27,010 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the transaction, the director directly owned 43,315 shares of the company's stock, valued at $727,692. This trade represents a 38.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,010 shares of company stock worth $3,925,971 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company's stock worth $5,582,000 after acquiring an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company's stock valued at $569,000 after purchasing an additional 2,356 shares during the period. Millennium Management LLC grew its position in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company's stock worth $10,236,000 after purchasing an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp grew its position in 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 worth $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock valued at $12,726,000 after purchasing an additional 576,660 shares during the period. 81.73% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.