Select Water Solutions, Inc. $WTTR Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Select Water Solutions stake by 37.4% in the second quarter, selling 84,079 shares and retaining 140,669 shares worth approximately $2.81 million.
• Select Water Solutions reported stronger-than-expected quarterly results, with EPS of $0.17 versus the $0.13 consensus estimate and revenue of $395.81 million, up 8.7% year over year.
• WTTR shares opened at $20.66, while analysts maintain a “Moderate Buy” consensus with an average price target of $23.00; the company also pays a quarterly dividend of $0.07 per share.

Squarepoint Ops LLC reduced its position in Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 37.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,669 shares of the company's stock after selling 84,079 shares during the period. Squarepoint Ops LLC owned about 0.10% of Select Water Solutions worth $2,811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Select Water Solutions during the second quarter worth about $54,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Select Water Solutions in the third quarter valued at approximately $29,000. Nykredit A S acquired a new stake in shares of Select Water Solutions in the second quarter valued at approximately $62,000. Osaic Holdings Inc. increased its stake in shares of Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after purchasing an additional 5,408 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Trading Up 0.1%

Shares of WTTR opened at $20.66 on Monday. The stock has a fifty day moving average of $19.88 and a two-hundred day moving average of $17.78. 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 capitalization of $2.86 billion, a PE ratio of 73.78 and a beta of 1.01. Select Water Solutions, Inc. has a fifty-two week low of $8.91 and a fifty-two week high of $22.55.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $395.81 million for the quarter, compared to analysts' expectations of $373.33 million. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The business's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, analysts forecast that Select Water Solutions, Inc. will post 0.59 EPS for the current year.

Select Water Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WTTR. TD Cowen lowered Select Water Solutions to a "neutral" rating in a research note on Friday, August 21st. Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. Wall Street Zen upgraded Select Water Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Raymond James Financial lowered Select Water Solutions from a "strong-buy" rating to an "outperform" rating and increased their price objective for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Select Water Solutions currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Select Water Solutions Company Profile

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and gas industry. Its services include water sourcing, transfer, recycling, treatment, storage, and disposal, supporting hydraulic fracturing, drilling, completions, and production operations. The company also provides water infrastructure services and oilfield chemical products and solutions.

The company operates through its Water Services, Water Infrastructure, and Chemical Technologies businesses.

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.