Select Water Solutions (NYSE:WTTR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Select Water Solutions (NYSE:WTTR) from a hold rating to a buy rating in a research report report published on Saturday.

Several other analysts have also commented on the company. Piper Sandler boosted their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Citigroup increased their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Bank of America started coverage on Select Water Solutions in a report on Friday, May 29th. They set a “buy” rating and a $22.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $24.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. One investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.40.

Select Water Solutions Stock Up 2.4%

Shares of WTTR 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 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 12 month low of $7.86 and a 12 month high of $20.48. The company has a 50-day moving average price of $18.85 and a two-hundred day moving average price of $15.51.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating 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 company had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts predict that Select Water Solutions will post 0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction 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 completion of the transaction, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction on 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 approximately $1,341,371.72. This represents a 38.77% 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTTR. Royal Bank of Canada increased its position in Select Water Solutions by 10.1% in the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after acquiring an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Select Water Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after purchasing an additional 2,356 shares in the last quarter. Millennium Management LLC grew its stake in shares of Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after purchasing an additional 576,660 shares in the last quarter. 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.