Select Water Solutions, Inc. (NYSE:WTTR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Select Water Solutions, Inc. (NYSE:WTTR) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.40.

A number of research analysts have weighed in on WTTR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler lifted their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Bank of America initiated coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th.

Select Water Solutions Price Performance

Shares of NYSE:WTTR opened at $20.48 on Tuesday. The company’s 50-day moving average is $18.90 and its 200 day moving average is $15.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The company has a market capitalization of $2.83 billion, a P/E ratio of 97.51 and a beta of 0.98. Select Water Solutions has a fifty-two week low of $7.86 and a fifty-two week high of $20.89.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Select Water Solutions will post 0.46 earnings per share for the current year.

Insider Transactions at Select Water Solutions

In other news, COO Michael Skarke sold 20,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total transaction 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 represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions 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 completion of the sale, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Select Water Solutions by 10.1% during the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after buying an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC grew its stake in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after buying an additional 802,833 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after acquiring an additional 576,660 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.