CenterBook Partners LP Sells 382,240 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

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 lowered its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 70.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,616 shares of the company's stock after selling 382,240 shares during the period. CenterBook Partners LP owned 0.13% of Select Water Solutions worth $1,665,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Select Water Solutions by 128.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock valued at $36,000 after acquiring an additional 1,525 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company's stock worth $126,000 after buying an additional 1,143 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Select Water Solutions in the 4th quarter valued at $134,000. Apollon Wealth Management LLC acquired a new stake in shares of Select Water Solutions in the 1st quarter valued at $113,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Select Water Solutions during the fourth quarter worth $154,000. Institutional investors own 81.73% of the company's stock.

Wall Street Analyst Weigh In

WTTR has been the topic of several research reports. Piper Sandler initiated coverage on Select Water Solutions in a research note on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target on the stock. Citigroup cut their price target on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Raymond James Financial cut their price target on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $14.88.

Select Water Solutions Trading Down 1.3%

Shares of Select Water Solutions stock traded down $0.11 on Friday, hitting $8.37. 966,011 shares of the company's stock traded hands, compared to its average volume of 992,856. The firm's 50-day moving average price is $9.14 and its two-hundred day moving average price is $9.80. The stock has a market capitalization of $1.01 billion, a PE ratio of 27.00 and a beta of 1.26. Select Water Solutions, Inc. has a one year low of $7.20 and a one year high of $15.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.67.

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

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. Select Water Solutions's payout ratio is presently 90.32%.

About Select Water Solutions

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.