Walleye Capital LLC Makes New Investment in Select Water Solutions, Inc. $WTTR

Walleye Capital LLC acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the first quarter, HoldingsChannel reports. The institutional investor acquired 35,400 shares of the company’s stock, valued at approximately $542,000.

A number of other institutional investors also recently made changes to their positions in WTTR. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Select Water Solutions during the 4th quarter worth $1,557,000. Wedge Capital Management L L P NC lifted its holdings in shares of Select Water Solutions by 176.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock worth $3,147,000 after buying an additional 191,086 shares in the last quarter. UBS Group AG lifted its holdings in shares of Select Water Solutions by 46.0% during the fourth quarter. UBS Group AG now owns 230,614 shares of the company’s stock worth $2,426,000 after buying an additional 72,613 shares in the last quarter. Needham Investment Management LLC boosted its position in shares of Select Water Solutions by 34.8% in the fourth quarter. Needham Investment Management LLC now owns 775,000 shares of the company’s stock valued at $8,153,000 after acquiring an additional 200,000 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in shares of Select Water Solutions in the fourth quarter valued at about $443,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

WTTR opened at $20.18 on Friday. The firm has a market cap of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98. Select Water Solutions, Inc. has a 52-week low of $7.86 and a 52-week high of $21.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The business’s fifty day moving average is $19.08 and its 200-day moving average is $15.86.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $365.96 million for the quarter, compared to analysts’ expectations 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 revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.46 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Insider Activity

In other news, COO Michael Skarke sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the completion of the sale, the chief operating officer owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. This represents a 19.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the sale, the director owned 71,578 shares in the company, valued at $1,341,371.72. This represents a 38.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,010 shares of company stock valued at $3,925,971 in the last 90 days. 6.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Piper Sandler boosted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Citigroup increased their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. 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 stock. According to data from MarketBeat, Select Water Solutions currently has an average rating of “Moderate Buy” and a consensus target price 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.