Select Water Solutions, Inc. (NYSE:WTTR – Get Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $20.18 and last traded at $20.0280, with a volume of 1899938 shares traded. The stock had previously closed at $19.56.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on WTTR. Northland Securities set a $21.00 price target on Select Water Solutions in a report on Thursday, May 7th. Citigroup increased their price target on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler increased their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.50.
Read Our Latest Analysis on WTTR
Select Water Solutions Stock Performance
Select Water Solutions (NYSE:WTTR – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. Equities research analysts predict that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.
Select Water Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Select Water Solutions’s dividend payout ratio (DPR) is currently 133.33%.
Insider Transactions at Select Water Solutions
In other news, COO Michael Skarke sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the sale, the chief operating officer directly owned 360,738 shares in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Szymanski sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were 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 owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Select Water Solutions
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Select Water Solutions by 4.6% during the 1st quarter. Bank of America Corp DE now owns 348,968 shares of the company’s stock valued at $5,339,000 after purchasing an additional 15,477 shares during the last quarter. California State Teachers Retirement System boosted its stake in Select Water Solutions by 24.9% during the 1st quarter. California State Teachers Retirement System now owns 106,867 shares of the company’s stock valued at $1,635,000 after purchasing an additional 21,329 shares during the last quarter. Empowered Funds LLC boosted its stake in Select Water Solutions by 6.2% during the 1st quarter. Empowered Funds LLC now owns 574,438 shares of the company’s stock valued at $8,789,000 after purchasing an additional 33,614 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Select Water Solutions by 3.5% during the 1st quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock valued at $645,000 after purchasing an additional 1,438 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Select Water Solutions during the 1st quarter valued at about $164,000. 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.
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