AlphaQuest LLC Buys 36,725 Shares of 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 grew its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 9,872.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,097 shares of the company's stock after buying an additional 36,725 shares during the quarter. AlphaQuest LLC's holdings in Select Water Solutions were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Select Water Solutions by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock valued at $66,769,000 after acquiring an additional 488,443 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Select Water Solutions by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company's stock valued at $42,738,000 after purchasing an additional 293,784 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Select Water Solutions by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock valued at $41,513,000 after purchasing an additional 229,736 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Select Water Solutions by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock worth $36,942,000 after buying an additional 343,581 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Select Water Solutions by 2.1% during the 1st quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock worth $18,732,000 after buying an additional 36,032 shares in the last quarter. Institutional investors own 81.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WTTR. Raymond James Financial decreased their target price on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 9th. Piper Sandler began coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target on the stock. Finally, 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. One equities research 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.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Trading Down 1.6%

Select Water Solutions stock traded down $0.14 during trading hours on Tuesday, hitting $8.39. The stock had a trading volume of 744,331 shares, compared to its average volume of 955,176. The business's 50 day simple moving average is $8.90 and its 200-day simple moving average is $9.21. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 27.05 and a beta of 1.26. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings data 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). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm had revenue of $364.22 million during the quarter, compared to analyst estimates of $362.93 million. During the same period in the prior year, the company earned $0.13 EPS. The business's quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. Select Water Solutions's dividend payout ratio (DPR) is presently 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.