Select Water Solutions (NYSE:WTTR) Now Covered by Bank of America

Bank of America assumed coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $22.00 target price on the stock.

Several other research firms have also weighed in on WTTR. Citigroup lifted their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Wall Street Zen raised Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Finally, Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.40.

Select Water Solutions Stock Performance

WTTR stock opened at $17.93 on Friday. The stock has a 50-day moving average price of $16.59 and a 200-day moving average price of $13.48. Select Water Solutions has a 1-year low of $7.86 and a 1-year high of $20.48. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.48 billion, a PE ratio of 85.37 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last posted 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. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same period last year, the company posted $0.08 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Select Water Solutions will post 0.29 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Buying and Selling

In other news, CAO Brian Szymanski sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the transaction, the chief accounting officer owned 114,752 shares in the company, valued at $1,955,374.08. The trade was a 14.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Skarke sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer owned 360,738 shares in the company, valued at $6,413,921.64. The trade was a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of WTTR. Barclays PLC raised its holdings in Select Water Solutions by 0.6% in the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after acquiring an additional 857 shares during the last quarter. Inspire Investing LLC raised its holdings in Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock worth $581,000 after acquiring an additional 1,023 shares during the last quarter. ProShare Advisors LLC raised its holdings in Select Water Solutions by 8.4% in the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after acquiring an additional 1,336 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Select Water Solutions by 3.5% in the 1st quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock worth $645,000 after acquiring an additional 1,438 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Select Water Solutions by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after acquiring an additional 1,541 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.