Select Water Solutions (NYSE:WTTR) Hits New 12-Month High – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.99 and last traded at $14.99, with a volume of 100 shares. The stock had previously closed at $14.67.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk upgraded 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 Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.78. The stock has a market cap of $1.79 billion, a P/E ratio of 24.86 and a beta of 1.67. The stock has a 50-day moving average price of $12.11 and a 200-day moving average price of $11.23.

Select Water Solutions (NYSE:WTTR) last released its quarterly 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 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 quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities research analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current 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 given a dividend of $0.07 per share. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.87%. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Select Water Solutions by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock worth $51,866,000 after buying an additional 188,347 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Select Water Solutions by 15.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,993 shares of the company’s stock worth $213,000 after acquiring an additional 3,142 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Select Water Solutions by 94.7% in the 1st quarter. Janus Henderson Group PLC now owns 54,711 shares of the company’s stock worth $505,000 after acquiring an additional 26,608 shares during the last quarter. Comerica Bank boosted its stake in shares of Select Water Solutions by 5,815.5% in the 1st quarter. Comerica Bank now owns 35,079 shares of the company’s stock valued at $324,000 after purchasing an additional 34,486 shares in the last quarter. Finally, SG Capital Management LLC grew its holdings in shares of Select Water Solutions by 3.0% during the 1st quarter. SG Capital Management LLC now owns 160,299 shares of the company’s stock valued at $1,480,000 after purchasing an additional 4,694 shares during the last quarter. 81.73% of the stock is currently 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.