Select Energy Services Announces $175 Million Equity Offering

The latest update is out from Select Energy Services ( (WTTR) ).

On February 19, 2026, Select Water Solutions announced it had priced an underwritten public offering of 13,725,491 shares of its Class A common stock at $12.75 per share, for gross proceeds of about $175 million and expected net proceeds of approximately $166.6 million. The company also granted underwriters a 30-day option to buy up to 2,058,824 additional shares, and plans to use the proceeds to purchase SES Holdings LLC units and fund general corporate purposes, including water infrastructure growth projects, potential acquisitions, and debt repayment under its sustainability-linked credit facility, in a move that strengthens its balance sheet and supports expansion of its energy-water infrastructure platform.

The offering, led by J.P. Morgan Securities and BofA Securities with a syndicate of additional banks, is expected to close on February 23, 2026, subject to customary conditions. The transaction underscores Select’s push to scale its sustainable water and chemical solutions footprint in the energy sector, potentially enhancing its competitive position while modestly diluting existing shareholders through the new equity issuance.

The most recent analyst rating on (WTTR) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Select Energy Services stock, see the WTTR Stock Forecast page.

Spark’s Take on WTTR Stock

According to Spark, TipRanks’ AI Analyst, WTTR is a Neutral.

The score is held back primarily by weakening TTM fundamentals (revenue drop, near-breakeven earnings, higher leverage, and negative free cash flow) and a demanding valuation (high P/E). Offsetting these are strong technical trend signals and a generally positive earnings-call outlook with clear 2026 growth and EBITDA guidance, while the equity offering improves funding capacity but adds dilution risk.

To see Spark’s full report on WTTR stock, click here.

More about Select Energy Services

Select Water Solutions, Inc. is a leading provider of sustainable water and chemical solutions to the energy industry, supported by critical water infrastructure, chemical manufacturing, and water treatment and recycling capabilities. The company focuses on enabling oil and gas operators to manage water needs efficiently across the energy value chain.

Average Trading Volume: 830,996

Technical Sentiment Signal: Buy

Current Market Cap: $1.75B

See more data about WTTR stock on TipRanks’ Stock Analysis page.