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

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price hit a new 52-week high during mid-day 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on WTTR. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.50 to $14.50 in a research report on Thursday, August 22nd. Northland Capmk upgraded 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 stock’s 50-day moving average price is $11.67 and its 200-day moving average price is $11.02. 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 company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 24.07 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm 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%. Select Water Solutions’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. As a group, equities research analysts expect that Select Water Solutions, Inc. will post 0.4 earnings per share for the current year.

Select Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.93%. Select Water Solutions’s dividend payout ratio is currently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds have recently made changes to their positions in the company. Caxton Associates LP purchased a new position in shares of Select Water Solutions during the first quarter valued at $495,000. Vanguard Group Inc. increased its holdings in shares of Select Water Solutions by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock valued at $51,866,000 after purchasing an additional 188,347 shares during the period. Foundry Partners LLC lifted its position in shares of Select Water Solutions by 29.8% in the third quarter. Foundry Partners LLC now owns 622,755 shares of the company’s stock worth $6,931,000 after purchasing an additional 142,919 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Select Water Solutions during the second quarter worth approximately $635,000. Finally, Harbor Capital Advisors Inc. grew its position in Select Water Solutions by 148.1% during the third 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. Hedge funds and other 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.