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

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price shot up 3.4% on Thursday . The company traded as high as $10.29 and last traded at $10.49. 56,994 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 957,506 shares. The stock had previously closed at $10.14.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their price objective on shares of 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 Price Performance

The company has a market cap of $1.21 billion, a price-to-earnings ratio of 33.85 and a beta of 1.77. The company has a 50-day simple moving average of $12.19 and a 200-day simple moving average of $12.35. 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 quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The business had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. As a group, research analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 2.76%. Select Water Solutions’s dividend payout ratio is presently 93.33%.

Insiders Place Their Bets

In other news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction on Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the transaction, the chief executive officer now owns 2,825,128 shares of the company’s stock, valued at $36,811,417.84. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Select Water Solutions

A number of large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in shares of Select Water Solutions by 21.9% in the fourth quarter. First Trust Advisors LP now owns 6,828,596 shares of the company’s stock valued at $90,411,000 after purchasing an additional 1,226,061 shares in the last quarter. FMR LLC raised its position in shares of Select Water Solutions by 51.9% during the 3rd quarter. FMR LLC now owns 3,728,787 shares of the company’s stock worth $41,501,000 after purchasing an additional 1,274,600 shares during the last quarter. American Century Companies Inc. lifted its stake in Select Water Solutions by 12.6% in the 4th quarter. American Century Companies Inc. now owns 3,174,675 shares of the company’s stock valued at $42,033,000 after buying an additional 355,271 shares in the last quarter. Webs Creek Capital Management LP grew its holdings in Select Water Solutions by 5.4% during the 4th quarter. Webs Creek Capital Management LP now owns 2,354,742 shares of the company’s stock valued at $31,177,000 after buying an additional 120,966 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Select Water Solutions by 7.9% during the third quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock worth $23,683,000 after buying an additional 155,091 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

About Select Water Solutions

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.