Select Water Solutions (NYSE:WTTR) Reaches New 52-Week High – Here’s What Happened

Select Water Solutions, Inc. (NYSE:WTTR)’s share price hit a new 52-week high on Wednesday . The company traded as high as $16.00 and last traded at $15.3160, with a volume of 2712774 shares changing hands. The stock had previously closed at $15.22.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WTTR shares. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Piper Sandler lifted their price objective on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen raised Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Citigroup upped their target price on shares of Select Water Solutions from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $17.00.

Select Water Solutions Price Performance

The company has a 50-day moving average of $13.58 and a 200-day moving average of $11.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 72.47 and a beta of 0.97.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.Select Water Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) EPS. As a group, research analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Insider Transactions at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.03, for a total value of $441,925.48. Following the sale, the chief executive officer owned 249,243 shares in the company, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Select Water Solutions by 10.1% in the first 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. grew its position in Select Water Solutions by 4.5% during the first 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 in the last quarter. Millennium Management LLC increased its stake in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its stake in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after acquiring an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Select Water Solutions by 90.8% in 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 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.