Select Water Solutions (NYSE:WTTR) Reaches New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

WTTR has been the topic of a number of recent research reports. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the company from $11.50 to $14.50 in a report on Thursday, August 22nd.

Select Water Solutions Stock Up 0.7 %

The stock has a market cap of $1.76 billion, a PE ratio of 25.05 and a beta of 1.67. The business has a fifty day moving average of $12.17 and a 200-day moving average of $11.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62.

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 the consensus estimate 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 firm had revenue of $371.35 million during the quarter, compared to the consensus estimate of $352.98 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders 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 an increase from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.90%. Select Water Solutions’s dividend payout ratio (DPR) is currently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Select Water Solutions by 3.5% in the first quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock valued at $51,866,000 after buying an additional 188,347 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Select Water Solutions by 15.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,993 shares of the company’s stock valued at $213,000 after purchasing an additional 3,142 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Select Water Solutions by 94.7% in the 1st quarter. Janus Henderson Group PLC now owns 54,711 shares of the company’s stock worth $505,000 after purchasing an additional 26,608 shares in the last quarter. Comerica Bank grew its position in Select Water Solutions by 5,815.5% during the 1st quarter. Comerica Bank now owns 35,079 shares of the company’s stock worth $324,000 after purchasing an additional 34,486 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Select Water Solutions by 57.3% during the 2nd 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. 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.