Select Water Solutions (NYSE:WTTR) Hits New 1-Year High – Time to Buy?

Shares of Select Water Solutions, Inc. (NYSE:WTTR) hit a new 52-week high on Thursday . The stock 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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 raised Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.50 to $14.50 in a report on Thursday, August 22nd.

Select Water Solutions Stock Performance

The company has a market capitalization of $1.73 billion, a P/E ratio of 24.07 and a beta of 1.67. The firm has a 50 day moving average price of $11.67 and a two-hundred day moving average price of $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.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. On average, research analysts expect that Select Water Solutions, Inc. will post 0.4 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is currently 47.46%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 1,096 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Select Water Solutions in the second quarter valued at approximately $34,000. CWM LLC boosted its position in Select Water Solutions by 55.2% in the second 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 stake in shares of Select Water Solutions by 13.8% during 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, Northwest & Ethical Investments L.P. purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $107,000. 81.73% of the stock is owned by institutional investors and hedge funds.

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.