CenterBook Partners LP Has $3.73 Million Holdings in Select Water Solutions, Inc. $WTTR

Key Points

• CenterBook Partners LP boosted its stake in Select Water Solutions by 34.8% in the fourth quarter, ending with 354,741 shares valued at about $3.73 million.
• Select Water Solutions reported better-than-expected quarterly results, posting EPS of $0.08 versus the $0.06 estimate and revenue of $365.96 million versus $344.63 million expected.
• Analysts remain broadly positive, with multiple firms issuing Buy/Strong Buy ratings and a consensus price target of $22.40, above the recent share price of $18.52.

CenterBook Partners LP lifted its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 34.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,741 shares of the company's stock after purchasing an additional 91,595 shares during the quarter. CenterBook Partners LP owned approximately 0.29% of Select Water Solutions worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. State of Wyoming grew its holdings in shares of Select Water Solutions by 21.4% during the 4th quarter. State of Wyoming now owns 12,878 shares of the company's stock worth $135,000 after purchasing an additional 2,268 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Select Water Solutions during the 4th quarter worth approximately $109,000. Geode Capital Management LLC grew its holdings in shares of Select Water Solutions by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,284,929 shares of the company's stock worth $24,041,000 after purchasing an additional 36,208 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Select Water Solutions by 65.1% during the 4th quarter. Hantz Financial Services Inc. now owns 129,954 shares of the company's stock worth $1,367,000 after purchasing an additional 51,233 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Select Water Solutions by 3.9% during the 4th quarter. Systematic Financial Management LP now owns 1,374,163 shares of the company's stock worth $14,456,000 after purchasing an additional 52,182 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Price Performance

Select Water Solutions stock opened at $18.52 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The company has a market capitalization of $2.56 billion, a PE ratio of 88.17 and a beta of 1.00. Select Water Solutions, Inc. has a one year low of $7.86 and a one year high of $20.48. The business has a 50 day simple moving average of $17.05 and a 200 day simple moving average of $13.85.

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

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions's payout ratio is presently 133.33%.

Insiders Place Their Bets

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director owned 43,315 shares in the company, valued at approximately $727,692. The trade was a 38.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction 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 of the company's stock, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James Financial reissued a "strong-buy" rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Bank of America began coverage on Select Water Solutions in a report on Friday, May 29th. They set a "buy" rating and a $22.00 price objective on the stock. Wall Street Zen upgraded Select Water Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Citigroup raised their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target 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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