Select Water Solutions (NYSE:WTTR) Hits New 1-Year High – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price hit a new 52-week high during trading on Thursday . The company 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

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

Select Water Solutions Stock Performance

The company has a market cap of $1.75 billion, a PE ratio of 24.90 and a beta of 1.67. The business’s 50-day moving average is $11.75 and its 200 day moving average is $11.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.78.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $371.35 million for 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 firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, equities research analysts predict that Select Water Solutions, Inc. will post 0.4 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, November 5th. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is 47.46%.

Institutional Investors Weigh In On Select Water Solutions

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Select Water Solutions by 1,328.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company’s stock valued at $40,344,000 after purchasing an additional 3,506,479 shares in the last quarter. FMR LLC boosted its stake in shares of Select Water Solutions by 51.9% during the 3rd quarter. FMR LLC now owns 3,728,787 shares of the company’s stock valued at $41,501,000 after purchasing an additional 1,274,600 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Select Water Solutions by 87.3% during the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company’s stock valued at $20,438,000 after purchasing an additional 890,470 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Select Water Solutions by 148.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock valued at $12,478,000 after purchasing an additional 669,301 shares in the last quarter. Finally, Foundry Partners LLC bought a new stake in shares of Select Water Solutions during the 2nd quarter valued at about $5,134,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.