EVR Research LP Invests $9.66 Million in Select Water Solutions, Inc. $WTTR

Key Points

• EVR Research LP acquired 920,000 shares of Select Water Solutions, Inc. for about $9.66 million, making it the fund's 8th largest holding.
• Multiple institutional investors have increased their stakes in Select Water Solutions, with hedge funds owning approximately 81.73% of the company's stock.
• Select Water Solutions reported a quarterly earnings per share (EPS) of $0.10, missing expectations, while also announcing a quarterly dividend yielding 3.4%.

EVR Research LP acquired a new stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 920,000 shares of the company's stock, valued at approximately $9,660,000. Select Water Solutions accounts for 2.7% of EVR Research LP's holdings, making the stock its 8th largest holding. EVR Research LP owned approximately 0.77% of Select Water Solutions as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in 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 buying an additional 1,525 shares during the period. Cetera Investment Advisers acquired a new position in Select Water Solutions in the fourth quarter valued at approximately $134,000. Apollon Wealth Management LLC bought a new stake in Select Water Solutions in the first quarter valued at approximately $113,000. Wealth Enhancement Advisory Services LLC bought a new stake in Select Water Solutions in the fourth quarter valued at approximately $154,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Select Water Solutions in the first quarter valued at approximately $123,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Stock Up 1.8%

Shares of WTTR stock traded up $0.16 during trading hours on Monday, hitting $8.55. 1,262,418 shares of the company were exchanged, compared to its average volume of 1,021,089. The business has a 50 day moving average of $8.92 and a two-hundred day moving average of $9.25. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14. The company has a market capitalization of $1.04 billion, a PE ratio of 27.56 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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $364.22 million for the quarter, compared to the consensus estimate of $362.93 million. During the same period in the prior year, the company earned $0.13 EPS. The firm's revenue was down .3% on a year-over-year basis. Analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. Select Water Solutions's dividend payout ratio is currently 90.32%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WTTR shares. Citigroup lowered their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Piper Sandler started coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. Finally, Raymond James Financial lowered their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $15.00.

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.