Wall Street Zen Upgrades Select Water Solutions (NYSE:WTTR) to “Buy”

Select Water Solutions (NYSE:WTTR) was upgraded by research 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 the stock. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Zacks Research cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Piper Sandler upped 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 note on Monday, May 18th. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.40.

Select Water Solutions Price Performance

WTTR opened at $20.32 on Friday. The stock’s 50-day moving average price is $18.85 and its 200 day moving average price is $15.55. Select Water Solutions has a 12-month low of $7.86 and a 12-month high of $20.48. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 96.75 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last announced 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. The company had revenue of $365.96 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. As a group, sell-side analysts expect that Select Water Solutions will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the transaction, the chief operating officer owned 360,738 shares in the company, valued at approximately $6,413,921.64. This trade represents a 5.25% decrease in their position. The sale was disclosed in a filing 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 dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the transaction, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,010 shares of company stock worth $3,925,971 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Select Water Solutions

Several hedge funds have recently added to or reduced their stakes in WTTR. Assenagon Asset Management S.A. grew its holdings in Select Water Solutions by 41.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 285,084 shares of the company’s stock worth $5,696,000 after acquiring an additional 82,902 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Select Water Solutions by 6.2% during the 1st quarter. Empowered Funds LLC now owns 574,438 shares of the company’s stock worth $8,789,000 after acquiring an additional 33,614 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Select Water Solutions by 218,652.9% in the 1st quarter. NewEdge Advisors LLC now owns 223,128 shares of the company’s stock valued at $3,414,000 after acquiring an additional 223,026 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of Select Water Solutions in the 1st quarter valued at about $233,000. Finally, Bank of America Corp DE raised its position in shares of Select Water Solutions by 4.6% during the 1st quarter. Bank of America Corp DE now owns 348,968 shares of the company’s stock worth $5,339,000 after acquiring an additional 15,477 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.