Select Water Solutions (NYSE:WTTR) Lowered to Hold Rating by Zacks Research

Select Water Solutions (NYSE:WTTR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

WTTR has been the topic of a number of other research reports. Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Bank of America initiated coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 price target on the stock. Piper Sandler lifted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Northland Securities set a $21.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Select Water Solutions presently has an average rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Stock Performance

Shares of NYSE:WTTR opened at $18.66 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. Select Water Solutions has a 12 month low of $7.86 and a 12 month high of $20.48. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 88.87 and a beta of 0.98. The firm’s 50-day moving average is $18.40 and its 200 day moving average is $15.04.

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

Insider Buying and Selling at Select Water Solutions

In related news, CAO Brian Szymanski sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares of the company’s stock, valued at $1,955,374.08. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the sale, the director owned 43,315 shares of the company’s stock, valued at approximately $727,692. This represents a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Select Water Solutions

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after buying an additional 2,786,172 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Select Water Solutions by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock valued at $100,220,000 after acquiring an additional 185,821 shares during the last quarter. Wellington Management Group LLP lifted its position in Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after acquiring an additional 705,612 shares during the last quarter. State Street Corp boosted its stake in Select Water Solutions by 15.1% in the fourth quarter. State Street Corp now owns 3,246,517 shares of the company’s stock valued at $34,153,000 after acquiring an additional 426,822 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its stake in Select Water Solutions by 31.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock valued at $32,810,000 after acquiring an additional 746,534 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other 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.