Walleye Capital LLC Buys New Shares in Select Water Solutions, Inc. $WTTR

Walleye Capital LLC purchased a new stake in Select Water Solutions, Inc. (NYSE:WTTR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 35,400 shares of the company’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTTR. Franklin Resources Inc. boosted its stake in shares of Select Water Solutions by 56.4% during the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after buying an additional 2,786,172 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Select Water Solutions by 2,133.9% in the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after acquiring an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Select Water Solutions by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after acquiring an additional 997,847 shares in the last quarter. Millennium Management LLC raised its holdings in Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after acquiring an additional 802,833 shares in the last quarter. Finally, Encompass Capital Advisors LLC raised its holdings in Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after acquiring an additional 746,534 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Trading Down 3.2%

Select Water Solutions stock opened at $20.18 on Friday. Select Water Solutions, Inc. has a 52 week low of $7.86 and a 52 week high of $21.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The stock has a market capitalization of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98. The stock has a 50-day simple moving average of $19.08 and a 200 day simple moving average of $15.86.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. Analysts expect that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

WTTR has been the subject of a number of analyst reports. Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Northland Securities set a $21.00 price objective on Select Water Solutions in a report on Thursday, May 7th. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.40.

Insiders Place Their Bets

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This trade represents a 38.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the transaction, the chief accounting officer directly owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,010 shares of company stock valued at $3,925,971 over the last 90 days. 6.20% of the stock is owned by insiders.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.