Select Water Solutions (NYSE:WTTR) Sets New 12-Month High – Time to Buy?

Select Water Solutions, Inc. (NYSE:WTTR)’s share price reached a new 52-week high on Friday . The stock traded as high as $14.99 and last traded at $14.99, with a volume of 100 shares trading hands. The stock had previously closed at $14.67.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. 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. Northland Capmk upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

Select Water Solutions Stock Up 0.7 %

The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.05 and a beta of 1.67. The business’s 50-day moving average is $12.17 and its 200-day moving average is $11.27.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The business had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue was down 4.6% on a year-over-year basis. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.4 earnings per share for the current 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 paid a dividend of $0.07 per share. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Tuesday, November 5th. Select Water Solutions’s dividend payout ratio is presently 47.46%.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted 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 valued at $32,000 after purchasing an additional 1,096 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Select Water Solutions during the 2nd quarter worth about $34,000. CWM LLC lifted its stake in Select Water Solutions by 55.2% in the 2nd quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after buying an additional 1,496 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in 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 buying an additional 1,010 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in Select Water Solutions during the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors 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.