Select Water Solutions (NYSE:WTTR) Upgraded at Wall Street Zen

Select Water Solutions (NYSE:WTTR) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts also recently commented on WTTR. Northland Capmk downgraded shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Raymond James Financial restated a “strong-buy” rating and issued a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. Piper Sandler set a $14.00 price target on Select Water Solutions in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Tuesday, October 14th. Finally, Northland Securities cut Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price objective for the company. in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Select Water Solutions Price Performance

Shares of WTTR stock opened at $10.68 on Friday. Select Water Solutions has a fifty-two week low of $7.20 and a fifty-two week high of $14.65. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 56.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.64. The stock’s 50-day simple moving average is $10.82 and its 200-day simple moving average is $9.84.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Wednesday, November 5th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $322.24 million during the quarter, compared to analysts’ expectations of $306.39 million. Select Water Solutions had a net margin of 1.41% and a return on equity of 2.26%. Select Water Solutions’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. As a group, equities analysts forecast that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Schmitz sold 70,375 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $11.21, for a total transaction of $788,903.75. Following the sale, the chief executive officer directly owned 31,372 shares of the company’s stock, valued at $351,680.12. This trade represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 443,187 shares of company stock worth $4,927,971 over the last quarter. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Select Water Solutions during the 1st quarter valued at approximately $1,915,000. State of Wyoming boosted its holdings in Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company’s stock worth $62,000 after buying an additional 1,509 shares in the last quarter. Palogic Value Management L.P. acquired a new stake in Select Water Solutions during the first quarter valued at $682,000. Nomura Holdings Inc. purchased a new position in Select Water Solutions in the first quarter valued at $385,000. Finally, 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 worth $5,582,000 after acquiring an additional 48,896 shares during the period. 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.