Select Water Solutions (NYSE:WTTR) Now Covered by Northland Securities

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

Select Water Solutions Stock Performance

Shares of Select Water Solutions stock opened at $9.42 on Monday. The firm’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $7.95. Select Water Solutions has a twelve month low of $6.78 and a twelve month high of $9.74. The firm has a market cap of $1.11 billion, a P/E ratio of 12.73 and a beta of 1.66.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share 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 business had revenue of $374.90 million for the quarter, compared to analyst estimates of $378.12 million. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Select Water Solutions will post 0.7 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, May 2nd. Select Water Solutions’s dividend payout ratio is currently 32.88%.

Insider Activity at Select Water Solutions

In related news, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $8.60, for a total transaction of $55,229.20. Following the completion of the transaction, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Christopher Kile George sold 23,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 255,587 shares in the company, valued at $2,205,715.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Szymanski sold 6,422 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $8.60, for a total transaction of $55,229.20. Following the transaction, the chief accounting officer now owns 95,936 shares in the company, valued at $825,049.60. The disclosure for this sale can be found here. Insiders sold 46,511 shares of company stock valued at $398,053 in the last ninety days. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. acquired a new position in shares of Select Water Solutions during the fourth quarter worth approximately $918,000. Invesco Ltd. lifted 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 worth $6,879,000 after purchasing an additional 133,416 shares in the last quarter. Gendell Jeffrey L lifted its position 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 worth $8,913,000 after purchasing an additional 121,199 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $7,526,000 after buying an additional 503,780 shares during the period. Finally, Meros Investment Management LP lifted its holdings in Select Water Solutions by 31.7% in the third quarter. Meros Investment Management LP now owns 732,118 shares of the company’s stock valued at $5,820,000 after buying an additional 176,102 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.