Select Water Solutions (NYSE:WTTR) Rating Lowered to Hold at Wall Street Zen

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

WTTR has been the topic of a number of other reports. Citigroup upped their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Bank of America began coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.40.

Select Water Solutions Price Performance

WTTR opened at $18.90 on Friday. The firm has a 50-day moving average price of $17.31 and a 200-day moving average price of $14.07. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions has a twelve month low of $7.86 and a twelve month high of $20.48. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 89.98 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $365.96 million during 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Equities analysts expect that Select Water Solutions will post 0.38 EPS for the current year.

Insider Activity at Select Water Solutions

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This trade represents a 38.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Skarke sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer directly owned 360,738 shares of the company’s stock, valued at approximately $6,413,921.64. This trade represents a 5.25% 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 sold 222,010 shares of company stock valued at $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of large investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of 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 buying an additional 857 shares during the last quarter. Inspire Investing LLC increased its holdings 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 worth $581,000 after buying an additional 1,023 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of 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 buying an additional 1,336 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of 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 buying an additional 1,438 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of 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 buying an additional 1,541 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

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.