Select Water Solutions (NYSE:WTTR) Hits New 12-Month High at $11.01

Select Water Solutions, Inc. (NYSE:WTTR) shares hit a new 52-week high on Monday . The company traded as high as $11.01 and last traded at $10.97, with a volume of 463140 shares trading hands. The stock had previously closed at $10.61.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WTTR. Northland Securities assumed coverage on shares of Select Water Solutions in a report on Monday, April 22nd. They issued a “market perform” rating and a $11.50 price target on the stock. Citigroup raised shares of Select Water Solutions from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Thursday, May 9th.

Select Water Solutions Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.76 and a current ratio of 1.94. The business’s 50 day simple moving average is $10.31 and its 200-day simple moving average is $9.06. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 16.32 and a beta of 1.69.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $366.60 million during the quarter, compared to analyst estimates of $369.29 million. Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The company’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. Research analysts anticipate that Select Water Solutions, Inc. will post 0.53 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, May 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.22%. Select Water Solutions’s payout ratio is currently 36.92%.

Insider Buying and Selling

In other news, COO Michael Skarke sold 13,421 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $9.78, for a total transaction of $131,257.38. Following the sale, the chief operating officer now owns 380,981 shares in the company, valued at $3,725,994.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WTTR. GAMMA Investing LLC boosted its holdings in shares of Select Water Solutions by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after buying an additional 1,096 shares during the period. CWM LLC grew its position in Select Water Solutions by 55.2% in the 2nd quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after purchasing an additional 1,496 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Select Water Solutions in the 4th quarter worth $54,000. Mackenzie Financial Corp grew its position in Select Water Solutions by 15.2% in the 4th quarter. Mackenzie Financial Corp now owns 14,931 shares of the company’s stock worth $113,000 after purchasing an additional 1,973 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Select Water Solutions by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 14,356 shares of the company’s stock worth $133,000 after purchasing an additional 1,131 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.