Jefferies Financial Group Inc. Purchases New Position in Select Water Solutions, Inc. (NYSE:WTTR)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Select Water Solutions, purchasing 65,722 shares valued at approximately $690,000.
• Analysts have set a consensus target price of $14.88 for Select Water Solutions, with ratings ranging from "buy" to "strong buy" from several firms.
• Select Water Solutions recently declared a quarterly dividend of $0.07 per share, representing an annualized yield of 3.1%.

Jefferies Financial Group Inc. acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 65,722 shares of the company's stock, valued at approximately $690,000. Jefferies Financial Group Inc. owned 0.06% of Select Water Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WTTR. XTX Topco Ltd bought a new position in shares of Select Water Solutions during the 1st quarter worth approximately $218,000. Picton Mahoney Asset Management raised its stake in Select Water Solutions by 62.0% during the first quarter. Picton Mahoney Asset Management now owns 599,013 shares of the company's stock worth $6,290,000 after acquiring an additional 229,289 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Select Water Solutions by 90.9% during the first quarter. Cetera Investment Advisers now owns 19,296 shares of the company's stock valued at $203,000 after acquiring an additional 9,188 shares during the period. Royce & Associates LP boosted its stake in shares of Select Water Solutions by 2.1% in the 1st quarter. Royce & Associates LP now owns 1,784,043 shares of the company's stock valued at $18,732,000 after purchasing an additional 36,032 shares in the last quarter. Finally, Lane Generational LLC boosted its stake in shares of Select Water Solutions by 22.4% in the 1st quarter. Lane Generational LLC now owns 385,383 shares of the company's stock valued at $4,047,000 after purchasing an additional 70,454 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WTTR has been the subject of a number of recent analyst reports. Piper Sandler started coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 target price for the company. Citigroup decreased their target price on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Raymond James Financial lowered their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $14.88.

Select Water Solutions Trading Down 5.3%

Select Water Solutions stock traded down $0.48 during mid-day trading on Wednesday, hitting $8.66. The stock had a trading volume of 1,816,398 shares, compared to its average volume of 1,024,746. The stock has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $9.89. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.04 billion, a PE ratio of 27.93 and a beta of 1.26. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results 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 net margin of 2.26% and a return on equity of 3.70%. The business had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. During the same period last year, the business posted $0.13 EPS. The firm's revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is currently 82.35%.

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.