Systematic Financial Management LP Buys 52,182 Shares of Select Water Solutions, Inc. $WTTR

Key Points

• Systematic Financial Management LP increased its stake in Select Water Solutions by 3.9% in the fourth quarter, buying 52,182 additional shares. It now owns 1,374,163 shares, worth about $14.46 million, or 1.13% of the company.
• Insiders have been selling stock, including COO Michael Skarke and CAO Brian Szymanski, with 222,010 shares sold over the last 90 days. Corporate insiders currently own 6.20% of the stock.
• Select Water Solutions beat quarterly expectations with earnings of $0.08 per share and revenue of $365.96 million, while analysts maintain a consensus Buy rating and a $22.50 price target. The stock also recently paid a quarterly dividend of $0.07 per share.

Systematic Financial Management LP raised its stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,374,163 shares of the company's stock after purchasing an additional 52,182 shares during the quarter. Systematic Financial Management LP owned 1.13% of Select Water Solutions worth $14,456,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the 3rd quarter worth about $29,000. State of Alaska Department of Revenue bought a new position in shares of Select Water Solutions during the 3rd quarter worth about $33,000. Osaic Holdings Inc. increased its holdings 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 during the period. CIBC Private Wealth Group LLC increased its holdings 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 period. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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 worth $75,000 after purchasing an additional 6,980 shares during the period. Institutional investors own 81.73% of the company's stock.

Insider Activity

In other Select Water Solutions news, COO Michael Skarke sold 90,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.31, for a total value of $1,557,900.00. Following the transaction, the chief operating officer directly owned 380,738 shares in the company, valued at $6,590,574.78. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Szymanski sold 20,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the transaction, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,010 shares of company stock valued at $3,925,971 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on WTTR. Wall Street Zen upgraded shares of Select Water Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $24.00 target price on shares of Select Water Solutions in a research report on Thursday, May 7th. Piper Sandler lifted their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.50.

Select Water Solutions Price Performance

NYSE:WTTR opened at $19.28 on Monday. The firm has a market cap of $2.66 billion, a PE ratio of 91.80 and a beta of 0.99. Select Water Solutions, Inc. has a 12 month low of $7.82 and a 12 month high of $20.48. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company's 50-day moving average price is $16.15 and its two-hundred day moving average price is $13.24.

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

Select Water Solutions Announces Dividend

The company also recently declared 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 was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Select Water Solutions's payout ratio is 133.33%.

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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