Adage Capital Partners GP L.L.C. Invests $315,000 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 its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,000 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WTTR. Tower Research Capital LLC TRC raised its holdings in Select Water Solutions by 128.6% during the fourth 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. Northern Trust Corp raised its holdings in shares of Select Water Solutions by 11.1% in the fourth quarter. Northern Trust Corp now owns 866,760 shares of the company's stock worth $11,476,000 after acquiring an additional 86,274 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Select Water Solutions in the fourth quarter worth $192,000. Ameriprise Financial Inc. raised its holdings in shares of Select Water Solutions by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 143,508 shares of the company's stock worth $1,900,000 after acquiring an additional 2,365 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Select Water Solutions by 29.5% in the fourth quarter. Bank of America Corp DE now owns 247,914 shares of the company's stock worth $3,282,000 after acquiring an additional 56,478 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler began coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Trading Down 0.8%

NYSE:WTTR traded down $0.07 on Friday, hitting $9.01. 908,008 shares of the stock were exchanged, compared to its average volume of 979,115. The stock has a market cap of $1.09 billion, a PE ratio of 29.06 and a beta of 1.26. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $8.87 and a 200-day moving average of $9.00. Select Water Solutions, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The business's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, equities analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.1%. Select Water Solutions's dividend payout ratio is currently 90.32%.

Select Water Solutions 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.