Select Water Solutions, Inc. (NYSE:WTTR) Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners LP has significantly reduced its stake in Select Water Solutions, Inc. by 70.7%, now owning 158,616 shares after selling 382,240 shares during the first quarter.
• Several hedge funds have increased their positions in Select Water Solutions, with Wells Fargo & Company lifting its stake by 284.9% during the fourth quarter.
• The company announced a quarterly dividend of $0.07, representing a 3.2% yield, with a payout ratio of 90.32%.

CenterBook Partners LP cut its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,616 shares of the company's stock after selling 382,240 shares during the quarter. CenterBook Partners LP owned 0.13% of Select Water Solutions worth $1,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WTTR. First Trust Advisors LP increased its stake in shares of Select Water Solutions by 21.9% during the fourth quarter. First Trust Advisors LP now owns 6,828,596 shares of the company's stock worth $90,411,000 after acquiring an additional 1,226,061 shares during the period. Hood River Capital Management LLC purchased a new stake in Select Water Solutions in the 4th quarter valued at approximately $7,274,000. Vanguard Group Inc. increased its position in Select Water Solutions by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock worth $66,769,000 after purchasing an additional 488,443 shares during the period. Penn Capital Management Company LLC purchased a new position in shares of Select Water Solutions during the 4th quarter worth approximately $5,751,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of Select Water Solutions in the 4th quarter valued at approximately $5,624,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Select Water Solutions Price Performance

Shares of NYSE:WTTR traded down $0.08 during midday trading on Monday, hitting $8.30. 308,524 shares of the stock were exchanged, compared to its average volume of 1,247,021. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $9.14 and a 200-day moving average price of $9.75. The stock has a market cap of $997.14 million, a P/E ratio of 26.74 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%. The business had revenue of $364.22 million for the quarter, compared to analysts' expectations of $362.93 million. During the same period last year, the business earned $0.13 earnings per share. The company's revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.4%. Select Water Solutions's payout ratio is presently 90.32%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WTTR. Citigroup dropped their price objective on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Raymond James Financial cut their price target on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler started coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price on the stock. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $14.88.

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.