Select Water Solutions (NYSE:WTTR) Sets New 52-Week High - Here's Why

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

Analyst Ratings Changes

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

Select Water Solutions Stock Performance

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 25.05 and a beta of 1.67. The stock's fifty day moving average is $12.17 and its two-hundred day moving average is $11.27. 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 - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $371.35 million during the quarter, compared to analysts' expectations of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. Select Water Solutions's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, 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 business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Select Water Solutions's previous quarterly dividend of $0.06. Select Water Solutions's dividend payout ratio is currently 47.46%.

Hedge Funds Weigh In On Select Water Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Select Water Solutions by 1,328.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company's stock worth $40,344,000 after purchasing an additional 3,506,479 shares during the last quarter. FMR LLC boosted its holdings in Select Water Solutions by 51.9% during the third quarter. FMR LLC now owns 3,728,787 shares of the company's stock worth $41,501,000 after buying an additional 1,274,600 shares in the last quarter. American Century Companies Inc. grew its position in Select Water Solutions by 87.3% in the second quarter. American Century Companies Inc. now owns 1,910,065 shares of the company's stock worth $20,438,000 after buying an additional 890,470 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Select Water Solutions by 148.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company's stock valued at $12,478,000 after buying an additional 669,301 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Select Water Solutions during the 2nd quarter valued at $5,134,000. 81.73% of the stock is owned by 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.