Select Water Solutions (NYSE:WTTR) Trading 3.4% Higher – Here’s What Happened

Shares of Select Water Solutions, Inc. (NYSE:WTTR) were up 3.4% on Thursday . The stock traded as high as $10.29 and last traded at $10.49. Approximately 56,994 shares changed hands during trading, a decline of 94% from the average daily volume of 957,506 shares. The stock had previously closed at $10.14.

Analysts Set New Price Targets

Separately, Citigroup upped their price objective on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Trading Up 0.9 %

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 34.12 and a beta of 1.77. The company has a 50 day moving average price of $12.33 and a two-hundred day moving average price of $12.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. On average, research analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 2.74%. Select Water Solutions’s dividend payout ratio (DPR) is currently 93.33%.

Insider Activity

In related news, CEO John Schmitz sold 26,550 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total transaction of $349,398.00. Following the transaction, the chief executive officer now directly owns 2,898,578 shares in the company, valued at approximately $38,145,286.48. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in shares of Select Water Solutions by 128.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after purchasing an additional 1,525 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after buying an additional 1,007 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Select Water Solutions in the 3rd quarter valued at $107,000. Amundi increased its stake in shares of Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company’s stock worth $119,000 after acquiring an additional 4,109 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after acquiring an additional 1,143 shares during the period. Institutional investors and hedge funds 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.