Select Water Solutions (NYSE:WTTR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Select Water Solutions (NYSE:WTTRGet Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04, FiscalAI reports. The company had revenue of $395.81 million during the quarter, compared to analysts’ expectations of $373.33 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.

Select Water Solutions Price Performance

Shares of NYSE WTTR traded up $0.12 during trading on Tuesday, reaching $18.50. The company had a trading volume of 3,114,839 shares, compared to its average volume of 1,688,184. The stock has a market capitalization of $2.56 billion, a PE ratio of 88.10 and a beta of 0.99. The stock has a 50-day moving average price of $18.92 and a two-hundred day moving average price of $16.19. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $21.67. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions’s dividend payout ratio (DPR) is presently 133.33%.

Insider Activity

In related news, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the transaction, the director directly owned 71,578 shares in the company, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robin H. Fielder sold 27,010 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. This represents a 38.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 222,010 shares of company stock worth $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in Select Water Solutions by 17.5% during the fourth quarter. Invesco Ltd. now owns 913,844 shares of the company’s stock worth $9,614,000 after acquiring an additional 136,324 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Select Water Solutions by 10.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock worth $186,000 after acquiring an additional 1,692 shares in the last quarter. Virtus Investment Advisers LLC acquired a new stake in shares of Select Water Solutions in the fourth quarter worth $160,000. Inspire Investing LLC raised its stake in shares of Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after acquiring an additional 1,023 shares during the period. Finally, Interval Partners LP purchased a new position in shares of Select Water Solutions in the 4th quarter valued at $315,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WTTR has been the subject of several analyst reports. Northland Securities set a $21.00 price target on Select Water Solutions in a report on Thursday, May 7th. Citigroup lifted their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Bank of America began coverage on shares of 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. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Monday, July 6th. Finally, Piper Sandler raised their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Get Our Latest Stock Analysis on WTTR

Select Water Solutions Company Profile

(Get Free Report)

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.

Featured Stories

Earnings History for Select Water Solutions (NYSE:WTTR)

Receive News & Ratings for Select Water Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Water Solutions and related companies with MarketBeat.com's FREE daily email newsletter.