Select Water Solutions (NYSE:WTTR) Shares Down 4.8% – Here’s Why

Shares of Select Water Solutions, Inc. (NYSE:WTTR) dropped 4.8% during trading on Monday . The stock traded as low as $9.36 and last traded at $9.18. Approximately 107,673 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,050,880 shares. The stock had previously closed at $9.65.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price target on Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Trading Up 0.3 %

The company has a 50-day simple moving average of $12.39 and a 200-day simple moving average of $12.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The stock has a market cap of $1.15 billion, a P/E ratio of 32.25 and a beta of 1.77.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data 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). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The business had revenue of $349.05 million during the quarter, compared to the consensus estimate of $333.62 million. On average, sell-side analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 2.89%. Select Water Solutions’s payout ratio is 93.33%.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the business’s 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 sale, the chief executive officer now owns 2,825,128 shares in the company, valued at $36,811,417.84. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Select Water Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock valued at $36,000 after buying an additional 1,525 shares during the period. Parkside Financial Bank & Trust lifted its stake in Select Water Solutions by 24.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock valued at $67,000 after buying an additional 1,007 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Select Water Solutions in the third quarter valued at about $107,000. Amundi lifted its stake in Select Water Solutions by 83.8% in the fourth quarter. Amundi now owns 9,010 shares of the company’s stock valued at $119,000 after buying an additional 4,109 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in Select Water Solutions by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock valued at $126,000 after buying an additional 1,143 shares during the period. Institutional investors 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.