Aventail Capital Group LP Invests $3.61 Million in Select Water Solutions, Inc. $WTTR

Key Points

• Aventail Capital Group LP opened a new position in Select Water Solutions, buying 342,955 shares valued at about $3.61 million in the fourth quarter. The stake represented roughly 0.28% of the company.
• Select Water Solutions reported better-than-expected quarterly earnings and revenue, posting $0.08 EPS versus the $0.06 consensus and revenue of $365.96 million versus expectations of $344.63 million.
• Analysts remain broadly bullish on WTTR, with several firms raising price targets and the stock carrying an average Buy rating and a consensus target price of $22.40.

Aventail Capital Group LP bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 342,955 shares of the company's stock, valued at approximately $3,608,000. Aventail Capital Group LP owned about 0.28% of Select Water Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Select Water Solutions by 17.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 87,356 shares of the company's stock worth $919,000 after buying an additional 12,708 shares during the last quarter. Lombard Odier Asset Management USA Corp lifted its stake in shares of Select Water Solutions by 7.4% during the 4th quarter. Lombard Odier Asset Management USA Corp now owns 127,142 shares of the company's stock worth $1,338,000 after buying an additional 8,709 shares during the last quarter. Atom Investors LP lifted its stake in shares of Select Water Solutions by 36.7% during the 4th quarter. Atom Investors LP now owns 225,149 shares of the company's stock worth $2,369,000 after buying an additional 60,500 shares during the last quarter. Meros Investment Management LP boosted its position in shares of Select Water Solutions by 4.4% in the fourth quarter. Meros Investment Management LP now owns 939,857 shares of the company's stock valued at $9,887,000 after acquiring an additional 39,471 shares during the period. Finally, Needham Investment Management LLC boosted its position in shares of Select Water Solutions by 34.8% in the fourth quarter. Needham Investment Management LLC now owns 775,000 shares of the company's stock valued at $8,153,000 after acquiring an additional 200,000 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Trading Down 1.0%

WTTR opened at $18.02 on Thursday. Select Water Solutions, Inc. has a twelve month low of $7.86 and a twelve month high of $20.48. The company has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $14.27. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 85.79 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The business had revenue of $365.96 million during the quarter, compared to analysts' expectations of $344.63 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Select Water Solutions's revenue was down 2.2% compared to the same quarter last year. Analysts predict that Select Water Solutions, Inc. will post 0.38 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.6%. Select Water Solutions's payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

WTTR has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler lifted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 25th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Select Water Solutions currently has an average rating of "Buy" and an average target price of $22.40.

Insiders Place Their Bets

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the transaction, the director owned 71,578 shares of the company's stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Skarke sold 90,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the transaction, the chief operating officer directly owned 380,738 shares of the company's stock, valued at approximately $6,590,574.78. The trade was a 19.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,010 shares of company stock worth $3,925,971 in the last ninety days. Insiders own 6.20% of the company's stock.

About Select Water Solutions

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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