Select Water Solutions (NYSE:WTTR) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of Select Water Solutions, Inc. (NYSE:WTTR) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $12.64 and last traded at $12.63, with a volume of 977596 shares trading hands. The stock had previously closed at $11.13.

The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company 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 3.91% and a return on equity of 6.56%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS.

Select Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued 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 is Tuesday, November 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.21%. Select Water Solutions’s payout ratio is presently 41.38%.

Analysts Set New Price Targets

A number of research firms recently commented on WTTR. Northland Capmk raised Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Northland Securities upgraded 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 research report on Thursday, August 22nd.

Institutional Trading of Select Water Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of WTTR. GAMMA Investing LLC grew its holdings in Select Water Solutions by 57.3% during the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after buying an additional 1,096 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Select Water Solutions during the 2nd quarter valued at approximately $34,000. CWM LLC increased its stake in shares of Select Water Solutions by 55.2% during 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 raised its holdings in shares of Select Water Solutions by 13.8% in the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after purchasing an additional 1,010 shares during the period. Finally, Creative Planning purchased a new position in Select Water Solutions in the third quarter valued at approximately $112,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Trading Up 13.7 %

The company has a quick ratio of 1.63, a current ratio of 1.81 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $11.03 and a 200 day moving average of $10.68. The firm has a market cap of $1.51 billion, a PE ratio of 21.64 and a beta of 1.67.

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.