Ranger Investment Management L.P. Invests $4.79 Million in Select Water Solutions, Inc. $WTTR

Key Points

• Ranger Investment Management acquired 239,795 shares of Select Water Solutions worth approximately $4.79 million, representing about 0.17% of the company. Institutional investors collectively own 81.73% of WTTR.
• Select Water Solutions exceeded quarterly expectations, reporting earnings of $0.17 per share versus the $0.13 consensus and revenue of $395.81 million, up 8.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $23.00, while the company pays a quarterly dividend of $0.07, yielding approximately 1.4% annually.

Ranger Investment Management L.P. acquired a new stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 239,795 shares of the company's stock, valued at approximately $4,791,000. Ranger Investment Management L.P. owned approximately 0.17% of Select Water Solutions as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Select Water Solutions in the 3rd quarter valued at about $29,000. Osaic Holdings Inc. grew its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after buying an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after buying an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock valued at $75,000 after buying an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Select Water Solutions by 190.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock valued at $77,000 after buying an additional 5,847 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Stock Up 0.1%

WTTR opened at $19.73 on Monday. Select Water Solutions, Inc. has a 1 year low of $8.06 and a 1 year high of $22.55. The firm has a 50 day moving average price of $19.49 and a 200 day moving average price of $17.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.40 and a current ratio of 1.58. The company has a market cap of $2.73 billion, a PE ratio of 70.46 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The firm had revenue of $395.81 million for the quarter, compared to analysts' expectations of $373.33 million. During the same period in the previous year, the company posted $0.10 earnings per share. Select Water Solutions's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Select Water Solutions, Inc. will post 0.56 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions's dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler lifted their price objective on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Zacks Research lowered Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. TD Cowen lowered Select Water Solutions to a "neutral" rating in a research note on Friday. Finally, JPMorgan Chase & Co. assumed coverage on Select Water Solutions in a report on Friday. They issued an "overweight" rating and a $24.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Select Water Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

About Select Water Solutions

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company's offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.

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