EVR Research LP Sells 400,000 Shares of Select Water Solutions, Inc. $WTTR

Key Points

• EVR Research LP cut its stake in Select Water Solutions by 44.4% in the fourth quarter, selling 400,000 shares and leaving it with 500,000 shares worth about $5.26 million.
• Insider selling has been active, with COO Michael Skarke and Director Robin H. Fielder both selling shares recently; insiders sold 222,010 shares worth nearly $3.93 million over the last 90 days.
• Wall Street sentiment remains generally positive, with analysts assigning an average “Buy” rating and a consensus price target of $22.40, while the stock recently traded at $18.02 after reporting quarterly earnings and revenue that beat estimates.

EVR Research LP decreased its holdings in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,000 shares of the company's stock after selling 400,000 shares during the quarter. Select Water Solutions makes up 2.8% of EVR Research LP's investment portfolio, making the stock its 15th biggest holding. EVR Research LP owned approximately 0.41% of Select Water Solutions worth $5,260,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WTTR. Wilmington Savings Fund Society FSB bought a new stake in shares of Select Water Solutions in the third quarter worth $29,000. Osaic Holdings Inc. grew its stake in shares of Select Water Solutions by 59.9% in the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after purchasing an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Select Water Solutions by 190.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock worth $77,000 after purchasing an additional 5,847 shares during the last quarter. Institutional investors own 81.73% of the company's stock.

Insider Activity

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer owned 360,738 shares of the company's stock, valued at approximately $6,413,921.64. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the transaction, the director owned 43,315 shares in the company, valued at $727,692. This represents a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WTTR has been the topic of several analyst reports. Wall Street Zen cut shares of Select Water Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Piper Sandler boosted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Zacks Research raised shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 25th. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $22.40.

Select Water Solutions Stock Performance

Shares of WTTR opened at $18.02 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.49 billion, a P/E ratio of 85.79 and a beta of 1.00. The firm's fifty day simple moving average is $17.49 and its two-hundred day simple moving average is $14.27. Select Water Solutions, Inc. has a 12 month low of $7.86 and a 12 month high of $20.48.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million for 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%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts predict that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Select Water Solutions's dividend payout ratio is 133.33%.

About Select Water Solutions

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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