EVR Research LP Makes New $9.66 Million Investment 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 bought a new position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 920,000 shares of the company's stock, valued at approximately $9,660,000. Select Water Solutions comprises 2.7% of EVR Research LP's investment portfolio, making the stock its 8th largest position. EVR Research LP owned about 0.77% of Select Water Solutions as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings 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 worth $36,000 after purchasing an additional 1,525 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Select Water Solutions in the fourth quarter worth $134,000. Apollon Wealth Management LLC purchased a new stake in Select Water Solutions in the first quarter worth $113,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Select Water Solutions in the fourth quarter worth $154,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Select Water Solutions in the first quarter worth $123,000. Institutional investors own 81.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WTTR. Piper Sandler began coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target for the company. Citigroup dropped their price target on 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. Finally, Raymond James Financial decreased their price objective on 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. 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 data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.00.

Select Water Solutions Stock Up 1.8%

Shares of NYSE:WTTR traded up $0.16 on Friday, hitting $8.55. 1,262,418 shares of the company traded hands, compared to its average volume of 1,029,821. The company has a quick ratio of 1.82, a current ratio of 2.01 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 cap of $1.04 billion, a PE ratio of 27.56 and a beta of 1.26. The stock has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $9.29.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. 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 quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts expect 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 was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is presently 90.32%.

Select Water Solutions 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.