Longboard Asset Management LP Makes New Investment in Select Water Solutions, Inc. (NYSE:WTTR)

Longboard Asset Management LP purchased a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,621 shares of the company’s stock, valued at approximately $167,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Select Water Solutions during the 4th quarter worth about $360,000. Ritholtz Wealth Management increased its stake in shares of Select Water Solutions by 24.1% during the 4th quarter. Ritholtz Wealth Management now owns 138,427 shares of the company’s stock worth $1,833,000 after purchasing an additional 26,912 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Select Water Solutions during the 4th quarter worth about $466,000. JPMorgan Chase & Co. increased its stake in shares of Select Water Solutions by 32.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,964 shares of the company’s stock worth $14,981,000 after purchasing an additional 329,353 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions during the 3rd quarter worth about $483,000. 81.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup boosted 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 note on Friday, January 10th.

Select Water Solutions Stock Up 2.1 %

Select Water Solutions stock opened at $13.36 on Wednesday. Select Water Solutions, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $15.14. The firm has a market capitalization of $1.59 billion, a PE ratio of 22.64 and a beta of 1.73. The company’s 50-day moving average is $13.67 and its 200-day moving average is $12.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The business had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. During the same quarter in the prior year, the business earned $0.14 EPS. Select Water Solutions’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.39 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a yield of 2.10%. Select Water Solutions’s dividend payout ratio (DPR) is currently 47.46%.

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.