AlphaQuest LLC Has $390,000 Stock Position in Select Water Solutions, Inc. $WTTR

Key Points

• AlphaQuest LLC has significantly increased its stake in Select Water Solutions by 9,872.3%, acquiring a total of 37,097 shares valued at $390,000 as reported in their latest SEC filing.
• Several hedge funds have also expanded their positions, with Tower Research Capital LLC increasing its stake by 128.6%, and overall, institutional investors own 81.73% of the company’s stock.
• Despite a recent earnings report showing a slight revenue decline, analysts maintain a consensus "Buy" rating for the stock with a target price of $15.00.

AlphaQuest LLC increased its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 9,872.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,097 shares of the company's stock after purchasing an additional 36,725 shares during the quarter. AlphaQuest LLC's holdings in Select Water Solutions were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Select Water Solutions by 128.6% during the 4th 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 in the last quarter. CoreCommodity Management LLC increased its position in Select Water Solutions by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 100,860 shares of the company's stock valued at $1,335,000 after acquiring an additional 1,544 shares in the last quarter. Principal Financial Group Inc. increased its position in Select Water Solutions by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 48,603 shares of the company's stock valued at $510,000 after acquiring an additional 1,822 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Select Water Solutions by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,865 shares of the company's stock valued at $687,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Select Water Solutions by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 143,508 shares of the company's stock valued at $1,900,000 after acquiring an additional 2,365 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Analysts Set New Price Targets

WTTR has been the subject of several research reports. Citigroup lowered their price objective on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Raymond James Financial lowered their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Friday, May 9th. Finally, Piper Sandler initiated coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Stock Up 0.7%

Shares of NYSE WTTR opened at $8.30 on Thursday. The firm has a market capitalization of $1.01 billion, a PE ratio of 26.76 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. Select Water Solutions, Inc. has a 1 year low of $7.20 and a 1 year high of $15.14. The firm's 50-day moving average is $8.95 and its 200-day moving average is $9.36.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $364.22 million during 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%. The firm's revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. Equities analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is 90.32%.

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.

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