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

Key Points

• Palogic Value Management L.P. has invested approximately $682,000 in Select Water Solutions, Inc. (NYSE: WTTR), acquiring 65,000 shares during the first quarter.
• Select Water Solutions recently declared a quarterly dividend of $0.07 per share, yielding 3.3% with a payout ratio of 90.32%.
• The stock of Select Water Solutions is currently rated as a Buy by analysts, with an average target price of $15.00.

Palogic Value Management L.P. bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in WTTR. Tower Research Capital LLC TRC increased its position in shares of Select Water Solutions by 128.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company's stock worth $36,000 after acquiring an additional 1,525 shares in the last quarter. State of Wyoming increased its position in shares of Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company's stock worth $62,000 after acquiring an additional 1,509 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after acquiring an additional 6,980 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Select Water Solutions during the first quarter worth about $113,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Select Water Solutions during the first quarter worth about $123,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Up 1.8%

WTTR opened at $8.55 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 27.56 and a beta of 1.26. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.14. The company's 50-day moving average price is $8.89 and its two-hundred day moving average price is $9.07.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The company had revenue of $364.22 million during the quarter, compared to analysts' expectations of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, equities analysts expect that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Select Water Solutions's payout ratio is presently 90.32%.

Wall Street Analysts Forecast Growth

WTTR has been the topic of several analyst reports. Citigroup cut their price target on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Piper Sandler initiated coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They set an "overweight" rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $15.00.

Select Water Solutions Company 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.

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