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

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

The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The company had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter in the previous year, the firm posted $0.14 EPS. Select Water Solutions’s revenue was down 4.6% on a year-over-year basis.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid 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 2.00%. Select Water Solutions’s dividend payout ratio is presently 41.38%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Select Water Solutions by 57.3% in the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after purchasing an additional 1,096 shares during the last quarter. Innealta Capital LLC purchased a new position in Select Water Solutions in the 2nd quarter worth approximately $34,000. CWM LLC increased its holdings in shares of 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 buying an additional 1,496 shares during the last quarter. New York State Teachers Retirement System raised its position 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 valued at $93,000 after buying an additional 1,010 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Select Water Solutions during the 3rd quarter worth $112,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Price Performance

The company has a market capitalization of $1.66 billion, a PE ratio of 24.09 and a beta of 1.67. 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’s 50-day moving average is $11.09 and its 200-day moving average is $10.70.

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.