Select Water Solutions, Inc. Declares Quarterly Dividend of $0.07 (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Tuesday, August 5th will be paid a dividend of 0.07 per share on Friday, August 15th. This represents a $0.28 annualized dividend and a yield of 2.84%.

Select Water Solutions has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Select Water Solutions to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 24.6%.

Select Water Solutions Price Performance

Select Water Solutions stock traded up $0.08 during midday trading on Thursday, reaching $9.86. The company had a trading volume of 955,434 shares, compared to its average volume of 1,269,958. Select Water Solutions has a 12-month low of $7.20 and a 12-month high of $15.14. The firm's fifty day simple moving average is $8.90 and its 200-day simple moving average is $10.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67. The company has a market capitalization of $1.18 billion, a P/E ratio of 28.99 and a beta of 1.20.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. The business had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Select Water Solutions will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WTTR shares. Citigroup lowered their price objective on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial lowered their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Friday, May 9th. Finally, Piper Sandler started coverage on Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $14.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased 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 acquiring an additional 6,980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company's stock worth $569,000 after purchasing an additional 2,356 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Select Water Solutions by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,814 shares of the company's stock valued at $2,077,000 after purchasing an additional 30,311 shares during the period. Royal Bank of Canada raised its position in Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company's stock valued at $5,582,000 after buying an additional 48,896 shares during the period. Finally, Millennium Management LLC lifted its stake in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company's stock worth $10,236,000 after acquiring an additional 802,833 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Company 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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