Select Water Solutions (NYSE:WTTR) Hits New 12-Month High at $11.01

Shares of Select Water Solutions, Inc. (NYSE:WTTR) hit a new 52-week high during trading on Monday . The company traded as high as $11.01 and last traded at $10.97, with a volume of 463140 shares traded. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

WTTR has been the topic of several analyst reports. Citigroup raised shares of Select Water Solutions from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, May 9th. Northland Securities initiated coverage on shares of Select Water Solutions in a research report on Monday, April 22nd. They set a “market perform” rating and a $11.50 price target on the stock.

Select Water Solutions Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.94 and a quick ratio of 1.76. The company’s 50-day simple moving average is $10.31 and its 200-day simple moving average is $9.06. The stock has a market capitalization of $1.29 billion, a P/E ratio of 16.32 and a beta of 1.69.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Select Water Solutions had a net margin of 4.28% and a return on equity of 7.46%. The company had revenue of $366.60 million during the quarter, compared to analyst estimates of $369.29 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Select Water Solutions’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Select Water Solutions, Inc. will post 0.53 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd were issued a $0.06 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.22%. Select Water Solutions’s dividend payout ratio is currently 36.92%.

Insider Buying and Selling at Select Water Solutions

In related news, COO Michael Skarke sold 13,421 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $9.78, for a total value of $131,257.38. Following the transaction, the chief operating officer now directly owns 380,981 shares in the company, valued at $3,725,994.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Select Water Solutions by 19.0% during the third quarter. Wellington Management Group LLP now owns 4,553,352 shares of the company’s stock worth $36,199,000 after purchasing an additional 728,101 shares during the period. Icon Wealth Advisors LLC bought a new stake in Select Water Solutions during the fourth quarter worth about $4,778,000. Vanguard Group Inc. lifted its position in Select Water Solutions by 10.1% during the third quarter. Vanguard Group Inc. now owns 5,063,979 shares of the company’s stock worth $40,259,000 after purchasing an additional 464,946 shares during the period. Harbor Capital Advisors Inc. lifted its position in Select Water Solutions by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 451,845 shares of the company’s stock worth $4,835,000 after purchasing an additional 330,838 shares during the period. Finally, Webs Creek Capital Management LP lifted its holdings in shares of Select Water Solutions by 16.1% in the first quarter. Webs Creek Capital Management LP now owns 2,208,733 shares of the company’s stock worth $20,387,000 after acquiring an additional 306,547 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.