Dimensional Fund Advisors LP Acquires 185,821 Shares of Select Water Solutions, Inc. $WTTR

Dimensional Fund Advisors LP grew its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,550,309 shares of the company's stock after acquiring an additional 185,821 shares during the quarter. Dimensional Fund Advisors LP owned 5.40% of Select Water Solutions worth $100,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in shares of Select Water Solutions by 56.4% during the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company's stock valued at $81,278,000 after purchasing an additional 2,786,172 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Select Water Solutions by 2,133.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company's stock valued at $22,783,000 after purchasing an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Select Water Solutions by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company's stock valued at $19,258,000 after buying an additional 997,847 shares in the last quarter. Millennium Management LLC boosted its position in Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company's stock valued at $10,236,000 after buying an additional 802,833 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in Select Water Solutions by 31.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company's stock valued at $32,810,000 after buying an additional 746,534 shares in the last quarter. Institutional investors own 81.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WTTR shares. Piper Sandler upped their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Weiss Ratings restated a "hold (c)" rating on shares of Select Water Solutions in a research report on Monday, July 6th. Zacks Research cut Select Water Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Citigroup upped their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.40.

Insiders Place Their Bets

In related news, Director Robin H. Fielder sold 27,010 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director owned 43,315 shares of the company's stock, valued at $727,692. This trade represents a 38.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Brian Szymanski sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the sale, the chief accounting officer directly owned 114,752 shares of the company's stock, valued at $1,955,374.08. This represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 222,010 shares of company stock valued at $3,925,971. Insiders own 6.20% of the company's stock.

Select Water Solutions Stock Down 0.9%

Shares of NYSE WTTR opened at $17.85 on Thursday. The company's 50 day moving average price is $18.98 and its 200-day moving average price is $16.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. Select Water Solutions, Inc. has a 52-week low of $7.86 and a 52-week high of $21.67. The company has a market capitalization of $2.47 billion, a P/E ratio of 84.98 and a beta of 0.98.

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. The company had revenue of $365.96 million during the quarter, compared to analysts' expectations of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. Select Water Solutions's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Equities analysts forecast that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th. Select Water Solutions's dividend payout ratio (DPR) is presently 133.33%.

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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