Wall Street Zen upgraded shares of Select Water Solutions (NYSE:WTTR – Free Report) from a hold rating to a buy rating in a research note published on Saturday.
Other research analysts have also issued reports about the stock. Piper Sandler boosted their price objective on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Citigroup boosted their price objective 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. Finally, Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.25.
Read Our Latest Research Report on WTTR
Select Water Solutions Stock Up 1.6%
Select Water Solutions (NYSE:WTTR – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. Select Water Solutions’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. Sell-side analysts anticipate that Select Water Solutions will post 0.29 earnings per share for the current year.
Select Water Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Select Water Solutions’s payout ratio is presently 133.33%.
Insider Buying and Selling
In related news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the sale, the director directly owned 43,315 shares of the company’s stock, valued at $727,692. The trade was a 38.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 157,010 shares of company stock valued at $2,708,068. Company insiders own 6.20% of the company’s stock.
Institutional Trading of Select Water Solutions
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in Select Water Solutions in the 3rd quarter valued at about $29,000. State of Alaska Department of Revenue bought a new stake in Select Water Solutions in the 3rd quarter valued at about $33,000. Osaic Holdings Inc. boosted its holdings in Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after purchasing an additional 5,408 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 6,980 shares during the period. Institutional investors 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.
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