Sei Investments Co. Acquires 211,421 Shares of Select Water Solutions, Inc. $WTTR

Sei Investments Co. increased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 100.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,854 shares of the company’s stock after buying an additional 211,421 shares during the period. Sei Investments Co.’s holdings in Select Water Solutions were worth $6,470,000 at the end of the most recent quarter.

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

Select Water Solutions Stock Performance

Shares of Select Water Solutions stock opened at $18.44 on Tuesday. The business has a 50-day moving average price of $18.92 and a two-hundred day moving average price of $16.19. Select Water Solutions, Inc. has a 1-year low of $7.86 and a 1-year high of $21.67. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.55 billion, a P/E ratio of 87.83 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $0.08 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, analysts anticipate that Select Water Solutions, Inc. will post 0.46 EPS for the current year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is presently 133.33%.

Insiders Place Their Bets

In other news, CAO Brian Szymanski sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares of the company’s stock, valued at $1,955,374.08. This trade represents a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director owned 43,315 shares of the company’s stock, valued at $727,692. This represents a 38.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WTTR. Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Monday, July 6th. Piper Sandler lifted their price objective 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. Zacks Research downgraded shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.40.

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.