Select Water Solutions (NYSE:WTTR) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Select Water Solutions (NYSE:WTTR) in a report released on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $24.00 price objective on the stock.

Several other brokerages have also issued reports on WTTR. Northland Securities set a $21.00 price target on Select Water Solutions in a research note on Thursday, May 7th. Zacks Research lowered Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Raymond James Financial cut Select Water Solutions from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $24.00 to $26.00 in a report on Thursday, August 6th. Bank of America initiated coverage on Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Select Water Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $19.73 on Friday. Select Water Solutions has a one year low of $8.06 and a one year high of $22.55. The business has a fifty day moving average price of $19.49 and a 200-day moving average price of $17.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.40. The firm has a market capitalization of $2.73 billion, a P/E ratio of 70.46 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $395.81 million for the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. As a group, equities research analysts forecast that Select Water Solutions will post 0.56 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Select Water Solutions’s dividend payout ratio is 100.00%.

Institutional Trading of Select Water Solutions

Several large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Select Water Solutions during the 2nd quarter valued at approximately $54,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Select Water Solutions during the third quarter valued at approximately $29,000. Nykredit A S bought a new position in shares of Select Water Solutions during the second quarter valued at approximately $62,000. Osaic Holdings Inc. lifted its stake in Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after acquiring an additional 1,830 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after acquiring an additional 5,408 shares in the last quarter. 81.73% of the stock is 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.