Adage Capital Partners GP L.L.C. Acquires New Position in Select Water Solutions, Inc. $WTTR

Adage Capital Partners GP L.L.C. acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,000 shares of the company's stock, valued at approximately $315,000.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $123,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Select Water Solutions during the 4th quarter worth approximately $154,000. GAMMA Investing LLC grew its position in shares of Select Water Solutions by 766.8% during the 1st quarter. GAMMA Investing LLC now owns 36,015 shares of the company's stock worth $378,000 after buying an additional 31,860 shares during the period. New York State Common Retirement Fund grew its position in shares of Select Water Solutions by 57.6% during the 1st quarter. New York State Common Retirement Fund now owns 664,868 shares of the company's stock worth $6,981,000 after buying an additional 243,114 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $1,915,000. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Stock Down 0.7%

NYSE:WTTR traded down $0.07 during trading hours on Friday, hitting $9.02. 479,502 shares of the company traded hands, compared to its average volume of 1,223,734. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The firm's 50-day simple moving average is $8.87 and its 200-day simple moving average is $9.04. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14. The company has a market cap of $1.09 billion, a PE ratio of 29.05 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $364.22 million for the quarter, compared to the consensus estimate of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. Select Water Solutions's revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. Equities analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is 90.32%.

Wall Street Analyst Weigh In

Separately, Piper Sandler began coverage on Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $15.00.

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.