Select Water Solutions, Inc. $WTTR Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP trimmed its stake in Select Water Solutions by 4.2% in the fourth quarter, selling 97,314 shares and ending with 2.21 million shares valued at about $23.2 million.
• The company reported stronger-than-expected quarterly results, posting EPS of $0.08 versus $0.06 expected and revenue of $365.96 million versus $344.63 million estimated, even though revenue was down 2.2% year over year.
• Wall Street remains broadly positive on WTTR, with an average rating of “Buy” and a consensus price target of $22.50, while insiders also sold shares recently, including notable sales by two directors.

Royce & Associates LP reduced its stake in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,206,744 shares of the company's stock after selling 97,314 shares during the quarter. Royce & Associates LP owned 1.82% of Select Water Solutions worth $23,215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its holdings in Select Water Solutions by 65.1% during the 4th quarter. Hantz Financial Services Inc. now owns 129,954 shares of the company's stock worth $1,367,000 after buying an additional 51,233 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Select Water Solutions by 3.9% during the 4th quarter. Systematic Financial Management LP now owns 1,374,163 shares of the company's stock worth $14,456,000 after buying an additional 52,182 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Select Water Solutions during the 4th quarter worth approximately $1,557,000. Jefferies Financial Group Inc. acquired a new stake in Select Water Solutions during the 4th quarter worth approximately $144,000. Finally, FourThought Financial Partners LLC acquired a new stake in Select Water Solutions during the 4th quarter worth approximately $189,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Trading Down 0.1%

Shares of NYSE:WTTR opened at $19.27 on Wednesday. Select Water Solutions, Inc. has a 52 week low of $7.86 and a 52 week high of $20.48. The company's 50 day moving average is $16.36 and its two-hundred day moving average is $13.34. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.66 billion, a PE ratio of 91.76 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The company had revenue of $365.96 million for the quarter, compared to the consensus estimate of $344.63 million. During the same period in the prior year, the firm posted $0.08 EPS. The company's quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts predict that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Select Water Solutions's dividend payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Select Water Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Citigroup increased their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $22.50.

Insider Activity

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director directly owned 71,578 shares of the company's stock, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robin H. Fielder sold 27,010 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the sale, the director directly owned 43,315 shares in the company, valued at approximately $727,692. This represents a 38.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by company insiders.

Select Water Solutions Company Profile

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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