Select Water Solutions (NYSE:WTTR) Trading 7.4% Higher - Should You Buy?

Key Points

• Select Water Solutions' stock price surged 7.4% during mid-day trading, reaching $10.87, although trading volume was 67% lower than average.
• Piper Sandler initiated coverage with an "overweight" rating and a price target of $15.00, contributing to a consensus rating of "Buy" among analysts.
• The company reported a net margin of 2.26% and missed earnings expectations for the last quarter, with an EPS of $0.10 compared to projections of $0.13.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report)'s share price traded up 7.4% during mid-day trading on Tuesday . The stock traded as high as $10.88 and last traded at $10.87. 403,155 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 1,231,312 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

Separately, Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $15.00.

Select Water Solutions Trading Up 4.7%

The stock has a market cap of $1.28 billion, a P/E ratio of 34.17 and a beta of 1.26. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $8.89 and its 200 day moving average price is $8.93.

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

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 5th. Select Water Solutions's payout ratio is currently 90.32%.

Hedge Funds Weigh In On Select Water Solutions

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position 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 purchasing an additional 1,830 shares during the last quarter. State of Wyoming raised its position in 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. Jones Financial Companies Lllp raised 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 buying an additional 6,980 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Select Water Solutions by 380.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 8,140 shares of the company's stock worth $70,000 after buying an additional 6,446 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock worth $77,000 after buying an additional 5,847 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.

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.

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