SG Americas Securities LLC Sells 38,634 Shares of Select Water Solutions, Inc. $WTTR

SG Americas Securities LLC lessened its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 62.1% during the first quarter, Holdings Channel reports. The fund owned 23,568 shares of the company’s stock after selling 38,634 shares during the quarter. SG Americas Securities LLC’s holdings in Select Water Solutions were worth $361,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Select Water Solutions in the third quarter valued at $29,000. Osaic Holdings Inc. boosted its position in shares of Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after purchasing an additional 5,408 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after buying an additional 5,847 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Skarke sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the transaction, the chief operating officer directly owned 360,738 shares in the company, valued at $6,413,921.64. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 222,010 shares of company stock worth $3,925,971. Company insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WTTR shares. Raymond James Financial reaffirmed 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. Piper Sandler upped their target price on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Bank of America started coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price target for the company. Finally, Wall Street Zen lowered shares of Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Select Water Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Select Water Solutions Stock Up 0.1%

Shares of NYSE:WTTR opened at $19.18 on Friday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 91.36 and a beta of 0.98. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48. The business’s 50 day moving average is $18.50 and its 200 day moving average is $15.16.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, sell-side analysts forecast that Select Water Solutions, Inc. will post 0.45 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

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

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.