Select Water Solutions, Inc. $WTTR Position Increased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its stake in Select Water Solutions by 44.2% during the second quarter, owning 154,732 shares valued at approximately $1.34 million.
• Analysts have given Select Water Solutions a consensus rating of "Buy" with an average target price of $15.00, indicating expected growth for the stock.
• For the latest quarter, Select Water Solutions reported $0.10 earnings per share, missing analysts' estimates and reflecting a 0.3% year-over-year revenue decline.

Wedge Capital Management L L P NC raised its position in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 44.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,732 shares of the company's stock after buying an additional 47,396 shares during the quarter. Wedge Capital Management L L P NC owned 0.13% of Select Water Solutions worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WTTR. State of Wyoming lifted its stake in Select Water Solutions by 34.1% during the first quarter. State of Wyoming now owns 5,932 shares of the company's stock valued at $62,000 after buying an additional 1,509 shares in the last quarter. Jones Financial Companies Lllp lifted 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 worth $75,000 after purchasing an additional 6,980 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Select Water Solutions in the first quarter worth approximately $113,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Select Water Solutions in the first quarter worth approximately $123,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Select Water Solutions in the fourth quarter worth approximately $134,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, Select Water Solutions presently has a consensus rating of "Buy" and an average target price of $15.00.

Select Water Solutions Trading Up 1.6%

Shares of WTTR stock opened at $10.14 on Tuesday. The business's 50 day moving average is $8.89 and its two-hundred day moving average is $8.93. The company has a market cap of $1.23 billion, a PE ratio of 32.71 and a beta of 1.26. 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.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $364.22 million during the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The company's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. Equities analysts predict that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.07 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.8%. Select Water Solutions's dividend payout ratio (DPR) is presently 90.32%.

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.

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