Assenagon Asset Management S.A. Purchases Shares of 202,182 Select Water Solutions, Inc. $WTTR

Key Points

• Assenagon Asset Management initiated a new position in Select Water Solutions, buying 202,182 shares valued at about $3.09 million in the first quarter.
• Select Water Solutions reported better-than-expected quarterly earnings, posting EPS of $0.08 versus estimates of $0.06, while revenue came in at $365.96 million, above forecasts.
• Analysts remain constructive on WTTR, with a consensus Buy rating and an average price target of $22.40; the stock recently traded near its 52-week high at $20.05.

Assenagon Asset Management S.A. purchased a new stake 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 & Exchange Commission. The firm purchased 202,182 shares of the company's stock, valued at approximately $3,093,000. Assenagon Asset Management S.A. owned about 0.17% of Select Water Solutions as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the third quarter worth about $29,000. Osaic Holdings Inc. raised its holdings in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after purchasing an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after purchasing an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock worth $77,000 after purchasing an additional 5,847 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Price Performance

WTTR stock opened at $20.05 on Wednesday. The stock has a market capitalization of $2.77 billion, a PE ratio of 95.48 and a beta of 1.00. The company's 50-day moving average is $18.17 and its 200-day moving average is $14.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $20.48.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The business had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same period in the previous year, the company posted $0.08 EPS. The firm's revenue was down 2.2% compared to the same quarter last year. Equities research analysts expect that Select Water Solutions, Inc. will post 0.38 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions's dividend payout ratio (DPR) is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other news, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares of the company's stock, valued at $1,341,371.72. This represents a 38.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WTTR shares. Citigroup lifted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Zacks Research raised shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. Bank of America assumed coverage on Select Water Solutions in a report on Friday, May 29th. They set a "buy" rating and a $22.00 price target for the company. Northland Securities set a $21.00 price objective on Select Water Solutions in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.40.

Select Water Solutions Company Profile

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company's offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.

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