Select Water Solutions (NYSE:WTTR) Now Covered by Northland Securities

Equities researchers at Northland Securities assumed coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note issued on Monday, Marketbeat reports. The brokerage set a “market perform” rating and a $11.50 price target on the stock. Northland Securities’ price target points to a potential upside of 22.54% from the stock’s current price.

Select Water Solutions Trading Up 1.2 %

Shares of Select Water Solutions stock opened at $9.39 on Monday. The company’s fifty day simple moving average is $8.83 and its two-hundred day simple moving average is $7.92. The company has a market cap of $1.11 billion, a P/E ratio of 12.86 and a beta of 1.66. Select Water Solutions has a 12-month low of $6.78 and a 12-month high of $9.74.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.11. The business had revenue of $374.90 million for the quarter, compared to the consensus estimate of $378.12 million. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. Analysts predict that Select Water Solutions will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Select Water Solutions

In other news, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $8.60, for a total value of $55,229.20. Following the sale, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $8.60, for a total value of $55,229.20. Following the sale, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nick L. Swyka sold 9,009 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total transaction of $77,026.95. Following the completion of the sale, the chief financial officer now directly owns 272,140 shares in the company, valued at $2,326,797. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,511 shares of company stock valued at $398,053. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Select Water Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Select Water Solutions during the 3rd quarter valued at about $28,000. New York State Teachers Retirement System purchased a new stake in Select Water Solutions during the 4th quarter valued at about $54,000. Principal Financial Group Inc. purchased a new stake in Select Water Solutions during the 3rd quarter valued at about $95,000. Mackenzie Financial Corp purchased a new stake in Select Water Solutions during the 3rd quarter valued at about $100,000. Finally, Clough Capital Partners L P purchased a new stake in Select Water Solutions during the 3rd quarter valued at about $112,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.