Select Water Solutions (NYSE:WTTR) Receives New Coverage from Analysts at Northland Securities

Northland Securities started coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $11.50 price target on the stock.

Select Water Solutions Stock Down 0.7 %

NYSE WTTR opened at $9.27 on Monday. Select Water Solutions has a twelve month low of $6.78 and a twelve month high of $9.74. The business has a 50-day moving average price of $8.83 and a 200-day moving average price of $7.92. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 12.70 and a beta of 1.66.

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

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Tuesday, February 6th. Select Water Solutions’s dividend payout ratio is presently 32.88%.

Insiders Place Their Bets

In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the transaction, the senior vice president now owns 255,587 shares in the company, valued at $2,205,715.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the sale, the senior vice president now directly owns 255,587 shares of the company’s stock, valued at $2,205,715.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Szymanski sold 8,080 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total value of $67,306.40. Following the sale, the chief accounting officer now owns 84,304 shares in the company, valued at $702,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 46,511 shares of company stock valued at $398,053 in the last quarter. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. North Star Investment Management Corp. purchased a new position in shares of Select Water Solutions during the 4th quarter worth about $918,000. Invesco Ltd. boosted its position in shares of Select Water Solutions by 18.2% during the third quarter. Invesco Ltd. now owns 865,323 shares of the company’s stock valued at $6,879,000 after buying an additional 133,416 shares during the period. Gendell Jeffrey L grew its stake in shares of Select Water Solutions by 12.1% during the third quarter. Gendell Jeffrey L now owns 1,121,189 shares of the company’s stock valued at $8,913,000 after buying an additional 121,199 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Select Water Solutions by 113.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 946,646 shares of the company’s stock worth $7,526,000 after buying an additional 503,780 shares during the period. Finally, Meros Investment Management LP lifted its stake in shares of Select Water Solutions by 31.7% during the 3rd quarter. Meros Investment Management LP now owns 732,118 shares of the company’s stock worth $5,820,000 after acquiring an additional 176,102 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.