Select Water Solutions (NYSE:WTTR) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Select Water Solutions (NYSE:WTTR) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. UBS Group reissued a “buy” rating and set a $28.00 target price on shares of Select Water Solutions in a research report on Wednesday. TD Cowen downgraded Select Water Solutions to a “neutral” rating in a research note on Friday, August 21st. Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Monday, July 6th. Finally, Bank of America increased their price objective on Select Water Solutions from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.57.

Select Water Solutions Stock Performance

NYSE WTTR opened at $20.01 on Friday. The company has a fifty day simple moving average of $19.95 and a 200 day simple moving average of $18.41. Select Water Solutions has a 12-month low of $9.28 and a 12-month high of $22.55. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.77 billion, a P/E ratio of 71.46 and a beta of 1.01.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The firm had revenue of $395.81 million for the quarter, compared to the consensus estimate of $373.33 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Select Water Solutions will post 0.59 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis 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 (DPR) is presently 100.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Select Water Solutions by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company’s stock valued at $100,220,000 after buying an additional 185,821 shares during the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Select Water Solutions by 31.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after buying an additional 746,534 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of Select Water Solutions by 1.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,528,895 shares of the company’s stock worth $23,392,000 after buying an additional 27,704 shares during the last quarter. Meros Investment Management LP grew its holdings in shares of Select Water Solutions by 4.4% in the fourth quarter. Meros Investment Management LP now owns 939,857 shares of the company’s stock valued at $9,887,000 after acquiring an additional 39,471 shares in the last quarter. Finally, Needham Investment Management LLC grew its holdings in shares of Select Water Solutions by 34.8% in the fourth quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock valued at $8,153,000 after acquiring an additional 200,000 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About Select Water Solutions

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and natural gas industry. Its services support drilling, completions, production and infrastructure operations, with an emphasis on sourcing, transferring, treating, recycling and disposing of water used in energy production.

The company’s offerings include water sourcing and transfer, water recycling and treatment, fluid management, pipeline and infrastructure services, and related logistics.