Select Energy Services Inc. (NYSE:) stock has reached a new 52-week high, trading at $14.88, with InvestingPro analysis showing strong financial health scores and a market capitalization of $1.77 billion. This milestone reflects a significant period of growth for the company, with the stock price doubling over the past year, marking an impressive 100.27% change. Investors have shown increased confidence in the company’s performance and future prospects, with analysts setting a high target of $19. The company maintains a healthy current ratio of 1.78 and has achieved 40% dividend growth. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, part of the platform’s coverage of 1,400+ US stocks.

In other recent news, Select Water Solutions has reported significant growth in its third-quarter earnings call. The company has seen a 20% increase in third-quarter revenues and a 33% rise in gross profit before depreciation and amortization (D&A) compared to the previous quarter. Year-over-year figures are even more impressive, with revenue up by 40% and gross profit surging by 99% compared to the same period last year.

The company has secured 25,000 acres under long-term contracts in the Permian Basin and two pipeline agreements in the Bakken. In addition, a disposal acquisition in the Northern Delaware Basin has added 10,000 barrels per day of capacity. Despite expected seasonal declines in the fourth quarter, Select Water Solutions expects Q4 margins to remain strong at 51%-54%.

The company has increased its quarterly dividend by 17% to $0.07 per share and allocated approximately $150 million for growth capital in the water infrastructure segment. Select Water Solutions anticipates achieving record adjusted EBITDA for 2024 and significant growth in 2025. These recent developments highlight the company’s ongoing commitment to enhancing its service base and positioning itself for continued growth.

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