Picton Mahoney Asset Management Boosts Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Picton Mahoney Asset Management increased its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 62.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,013 shares of the company's stock after acquiring an additional 229,289 shares during the period. Picton Mahoney Asset Management owned about 0.50% of Select Water Solutions worth $6,290,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WTTR shares. Piper Sandler started coverage on Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective on the stock. Raymond James Financial dropped their price objective on 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. Finally, Citigroup dropped their price objective 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. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Select Water Solutions currently has an average rating of "Buy" and an average target price of $14.88.

Select Water Solutions Stock Down 6.3%

Shares of WTTR traded down $0.61 during mid-day trading on Friday, reaching $9.02. The company's stock had a trading volume of 1,435,234 shares, compared to its average volume of 1,252,497. 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 cap of $1.08 billion, a PE ratio of 26.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67. The company's 50 day moving average is $9.07 and its 200 day moving average is $10.03.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $374.38 million for the quarter, compared to the consensus estimate of $360.78 million. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The company's revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is 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 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.