Select Water Solutions, Inc. $WTTR Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Select Water Solutions stake by 14.2% in the first quarter, selling 66,600 shares and retaining 403,461 shares valued at approximately $6.17 million. Institutional investors collectively own 81.73% of WTTR.
• Select Water Solutions reported quarterly EPS of $0.17, exceeding the $0.13 analyst consensus, while revenue reached $395.81 million and rose 8.7% year over year. The company also declared a $0.07 quarterly dividend, equal to a 1.5% annualized yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $22.40 versus the stock’s reported price of $18.50. However, company insiders sold 222,010 shares worth about $3.93 million over the past 90 days.

Renaissance Technologies LLC lowered its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 14.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 403,461 shares of the company's stock after selling 66,600 shares during the period. Renaissance Technologies LLC owned 0.29% of Select Water Solutions worth $6,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WTTR. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Water Solutions in the third quarter valued at about $29,000. Osaic Holdings Inc. boosted its position in 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 acquiring an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after acquiring an additional 5,408 shares during the last quarter. Jones Financial Companies Lllp grew its stake in 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 valued at $75,000 after acquiring an additional 6,980 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Select Water Solutions by 190.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company's stock valued at $77,000 after acquiring an additional 5,847 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $18.50 on Wednesday. The company's 50-day moving average is $18.91 and its two-hundred day moving average is $16.24. Select Water Solutions, Inc. has a 1-year low of $7.86 and a 1-year high of $21.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 88.10 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $395.81 million during the quarter, compared to the consensus estimate of $373.33 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. Analysts forecast that Select Water Solutions, Inc. will post 0.46 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be given a $0.07 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Select Water Solutions's payout ratio is currently 133.33%.

Insiders Place Their Bets

In other news, COO Michael Skarke sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the transaction, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the transaction, the director directly owned 71,578 shares of the company's stock, valued at $1,341,371.72. The trade was a 38.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,010 shares of company stock worth $3,925,971 over the last ninety days. Company insiders own 6.20% of the company's stock.

Analysts Set New Price Targets

WTTR has been the topic of a number of research reports. Citigroup raised their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Piper Sandler increased their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Raymond James Financial reiterated a "strong-buy" rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Zacks Research downgraded Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Select Water Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

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.

Want to see what other hedge funds are holding WTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Water Solutions, Inc. (NYSE:WTTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source