Penn Capital Management Company LLC Reduces Position in Select Water Solutions, Inc. $WTTR

Penn Capital Management Company LLC lessened its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,151,131 shares of the company’s stock after selling 28,030 shares during the quarter. Penn Capital Management Company LLC owned about 0.95% of Select Water Solutions worth $12,122,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WTTR. Royal Bank of Canada grew its stake in Select Water Solutions by 10.1% during the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after buying an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after buying an additional 2,356 shares during the last quarter. Millennium Management LLC grew its stake in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after buying an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock worth $12,726,000 after buying an additional 576,660 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Trading Down 0.1%

Shares of WTTR stock opened at $19.27 on Wednesday. The business’s 50 day moving average is $16.36 and its two-hundred day moving average is $13.34. Select Water Solutions, Inc. has a twelve month low of $7.86 and a twelve month high of $20.48. The company has a market capitalization of $2.66 billion, a P/E ratio of 91.76 and a beta of 0.99. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WTTR shares. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup raised their price target on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.50.

Insider Buying and Selling

In other Select Water Solutions news, COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the transaction, the chief operating officer directly owned 380,738 shares in the company, valued at approximately $6,590,574.78. This trade represents a 19.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director owned 43,315 shares in the company, valued at $727,692. This trade represents a 38.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

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.