Palogic Value Management L.P. Takes $682,000 Position in Select Water Solutions, Inc. $WTTR

Key Points

• Palogic Value Management L.P. has invested $682,000 in Select Water Solutions, Inc., acquiring 65,000 shares, which represents about 0.05% of the company.
• Select Water Solutions recently reported earnings per share (EPS) of $0.10, missing analysts' expectations of $0.13, while its quarterly revenue was $364.22 million, slightly above expectations.
• The company announced a quarterly dividend of $0.07 per share, with an annualized dividend yield of 3.3% and a payout ratio of 90.32%.

Palogic Value Management L.P. purchased a new position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,000 shares of the company's stock, valued at approximately $682,000. Palogic Value Management L.P. owned approximately 0.05% of Select Water Solutions at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WTTR. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Select Water Solutions during the 1st quarter valued at about $123,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Select Water Solutions in the 4th quarter valued at about $154,000. GAMMA Investing LLC increased its position in shares of Select Water Solutions by 766.8% during the 1st quarter. GAMMA Investing LLC now owns 36,015 shares of the company's stock valued at $378,000 after purchasing an additional 31,860 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Select Water Solutions by 57.6% during the 1st quarter. New York State Common Retirement Fund now owns 664,868 shares of the company's stock valued at $6,981,000 after purchasing an additional 243,114 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in Select Water Solutions during the 1st quarter valued at about $244,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Trading Down 1.6%

Shares of NYSE WTTR traded down $0.14 during midday trading on Tuesday, reaching $8.39. 744,331 shares of the stock were exchanged, compared to its average volume of 1,221,560. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. The business has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $9.22.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly 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 3.69%. The business had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued 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 yield of 3.3%. Select Water Solutions's dividend payout ratio is 90.32%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WTTR shares. Piper Sandler initiated 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 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 decreased their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.