Select Water Solutions (NYSE:WTTR) Reaches New 1-Year High – Should You Buy?

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $14.51 and last traded at $14.48, with a volume of 51239 shares. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WTTR shares. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd. Northland Capmk raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd.

Select Water Solutions Price Performance

The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.75 billion, a PE ratio of 24.90 and a beta of 1.67. The firm’s fifty day simple moving average is $11.75 and its 200-day simple moving average is $11.05.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $371.35 million during the quarter, compared to analysts’ expectations of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. On average, research analysts forecast that Select Water Solutions, Inc. will post 0.4 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.91%. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. Select Water Solutions’s payout ratio is presently 47.46%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its holdings in shares of Select Water Solutions by 13.8% during the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock valued at $93,000 after purchasing an additional 1,010 shares during the last quarter. SkyView Investment Advisors LLC grew its position in Select Water Solutions by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 61,105 shares of the company’s stock valued at $680,000 after buying an additional 1,073 shares during the period. GAMMA Investing LLC grew its position in Select Water Solutions by 57.3% during the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after buying an additional 1,096 shares during the period. ProShare Advisors LLC grew its position in Select Water Solutions by 8.6% during the first quarter. ProShare Advisors LLC now owns 14,356 shares of the company’s stock valued at $133,000 after buying an additional 1,131 shares during the period. Finally, CWM LLC grew its position in Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after buying an additional 1,496 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.