Select Water Solutions (NYSE:WTTR) Shares Gap Down to $9.05

Shares of Select Water Solutions, Inc. (NYSE:WTTR) gapped down before the market opened on Friday . The stock had previously closed at $9.05, but opened at $8.60. Select Water Solutions shares last traded at $9.04, with a volume of 438,680 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Northland Securities started coverage on shares of Select Water Solutions in a report on Monday, April 22nd. They issued a “market perform” rating and a $11.50 price objective on the stock.

Select Water Solutions Trading Up 1.3 %

The stock has a market capitalization of $1.08 billion, a PE ratio of 13.92 and a beta of 1.65. The firm’s fifty day moving average is $9.03 and its 200-day moving average is $8.02.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The business had revenue of $366.60 million for the quarter, compared to analysts’ expectations of $369.29 million. Select Water Solutions had a return on equity of 7.48% and a net margin of 4.28%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, equities analysts predict that Select Water Solutions, Inc. will post 0.7 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.62%. Select Water Solutions’s dividend payout ratio (DPR) is presently 36.92%.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 8,080 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the completion of the transaction, the chief accounting officer now directly owns 84,304 shares of the company’s stock, valued at $702,252.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $8.63, for a total value 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 at this hyperlink. Also, CAO Brian Szymanski sold 8,080 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the completion of the transaction, the chief accounting officer now owns 84,304 shares of the company’s stock, valued at approximately $702,252.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,511 shares of company stock worth $398,053. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WTTR. Allspring Global Investments Holdings LLC purchased a new position in shares of Select Water Solutions in the third quarter valued at $28,000. New York State Teachers Retirement System purchased a new position in shares of Select Water Solutions in the fourth quarter valued at $54,000. Principal Financial Group Inc. purchased a new position in shares of Select Water Solutions in the third quarter valued at $95,000. Mackenzie Financial Corp purchased a new position in shares of Select Water Solutions in the third quarter valued at $100,000. Finally, Clough Capital Partners L P purchased a new position in shares of Select Water Solutions in the third quarter valued at $112,000. Hedge funds and other 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.