Select Water Solutions (NYSE:WTTR) Upgraded to “Buy” at Wall Street Zen

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

Other equities analysts have also issued reports about the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler boosted their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Citigroup upped their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.40.

Select Water Solutions Stock Up 2.4%

Select Water Solutions stock opened at $20.32 on Friday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 96.75 and a beta of 0.98. 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 company’s 50-day moving average price is $18.85 and its two-hundred day moving average price is $15.51. Select Water Solutions has a 52 week low of $7.86 and a 52 week high of $20.48.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company 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%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS. On average, analysts expect that Select Water Solutions will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction dated 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 $1,341,371.72. This represents a 38.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,010 shares of company stock valued at $3,925,971. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

A number of large investors have recently made changes to their positions in WTTR. Barclays PLC lifted its holdings in shares of Select Water Solutions by 0.6% in the fourth quarter. Barclays PLC now owns 147,581 shares of the company’s stock valued at $1,553,000 after purchasing an additional 857 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Select Water Solutions by 1.9% during the fourth quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after buying an additional 1,023 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Select Water Solutions by 8.4% during the fourth quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after buying an additional 1,336 shares in the last quarter. Quantinno Capital Management LP raised its position in Select Water Solutions by 3.5% during the first quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock valued at $645,000 after buying an additional 1,438 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in Select Water Solutions by 2.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock valued at $686,000 after buying an additional 1,541 shares during the period. Institutional investors and hedge funds 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.