Palogic Value Management L.P. Buys Shares of 65,000 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. acquired a new position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,000 shares of the company's stock, valued at approximately $682,000. Palogic Value Management L.P. owned 0.05% of Select Water Solutions at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of Select Water Solutions by 2.1% in the 1st quarter. Empowered Funds LLC now owns 653,548 shares of the company's stock worth $6,862,000 after acquiring an additional 13,147 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock worth $12,726,000 after buying an additional 576,660 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after buying an additional 6,980 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in shares of Select Water Solutions by 52.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,932 shares of the company's stock worth $724,000 after buying an additional 23,632 shares during the period. Finally, Petrus Trust Company LTA bought a new position in shares of Select Water Solutions during the 1st quarter worth approximately $179,000. Institutional investors own 81.73% of the company's stock.

Select Water Solutions Price Performance

WTTR traded down $0.07 during trading on Friday, hitting $9.01. The company's stock had a trading volume of 908,008 shares, compared to its average volume of 979,115. The firm's 50 day moving average price is $8.87 and its two-hundred day moving average price is $9.00. 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 12 month low of $7.20 and a 12 month high of $15.14. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 29.06 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million during the quarter, compared to analyst estimates 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 quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. Sell-side analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.1%. Select Water Solutions's payout ratio is 90.32%.

Analysts Set New Price Targets

Separately, Piper Sandler initiated coverage on 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. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.