Select Water Solutions, Inc. $WTTR Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,330,000 shares of the company’s stock after acquiring an additional 310,000 shares during the period. Select Water Solutions makes up about 1.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 26th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Select Water Solutions were worth $26,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Ranger Investment Management L.P. purchased a new stake in shares of Select Water Solutions in the 2nd quarter valued at $4,791,000. NewEdge Advisors LLC boosted its holdings in Select Water Solutions by 218,652.9% in the first 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 in the last quarter. Sei Investments Co. increased its position in shares of Select Water Solutions by 100.0% during the first quarter. Sei Investments Co. now owns 422,854 shares of the company’s stock valued at $6,470,000 after buying an additional 211,421 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Select Water Solutions in the 1st quarter worth approximately $3,093,000. Finally, 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 buying an additional 185,821 shares during the period. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Stock Up 2.9%

Shares of WTTR opened at $18.67 on Tuesday. The company has a market capitalization of $2.59 billion, a PE ratio of 66.68 and a beta of 1.01. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17. Select Water Solutions, Inc. has a 12-month low of $9.28 and a 12-month high of $22.55. The business’s 50 day moving average is $19.71 and its 200 day moving average is $17.16.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 EPS 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 business had revenue of $395.81 million for the quarter, compared to analysts’ expectations of $373.33 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Select Water Solutions, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WTTR has been the subject of several recent research reports. UBS Group reiterated a “buy” rating and set a $28.00 target price on shares of Select Water Solutions in a report on Wednesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, October 2nd. TD Cowen downgraded Select Water Solutions to a “neutral” rating in a report on Friday, August 21st. Raymond James Financial cut shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $26.00 in a report on Thursday, August 6th. Finally, Bank of America boosted their price target on Select Water Solutions from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.57.

About Select Water Solutions

Select Water Solutions, Inc provides water management and environmental services to the North American oil and gas industry. The company helps exploration and production companies source, transport, store, treat, recycle and dispose of water used in drilling and hydraulic fracturing operations.

Its services include freshwater sourcing and transfer, produced-water gathering and recycling, water infrastructure construction and management, well testing, and wastewater disposal. Select Water Solutions also provides water-treatment solutions and related equipment designed to support more efficient water use and reduce the environmental impact of oilfield operations.

Formerly known as Select Energy Services, the company adopted the Select Water Solutions name in 2023 to reflect its broader focus on water and environmental services.