Select Water Solutions, Inc. Announces 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 2.87%. The ex-dividend date of this dividend is Tuesday, August 5th.

Select Water Solutions has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research 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

NYSE WTTR traded up $0.03 during trading hours on Monday, hitting $9.76. 448,932 shares of the company's stock traded hands, compared to its average volume of 1,159,515. Select Water Solutions has a 52-week low of $7.20 and a 52-week high of $15.14. The company has a market capitalization of $1.17 billion, a PE ratio of 28.71 and a beta of 1.20. 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 firm's 50-day moving average is $8.98 and its 200-day moving average is $10.06.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $374.38 million for the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a net margin of 2.42% and a return on equity of 3.96%. Select Water Solutions's revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Equities analysts forecast that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Select Water Solutions

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock worth $12,726,000 after purchasing an additional 576,660 shares during the period. Millennium Management LLC lifted its stake in shares of 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 during the period. Royal Bank of Canada lifted its stake in shares of Select Water Solutions by 10.1% in the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company's stock worth $5,582,000 after acquiring an additional 48,896 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Select Water Solutions by 18.1% in 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 worth $2,077,000 after acquiring an additional 30,311 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company's stock worth $569,000 after acquiring an additional 2,356 shares during the period. Institutional investors and hedge funds own 81.73% of the company's stock.

About Select Water Solutions

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.