Select Water Solutions (NYSE:WTTR) Sets New 12-Month Low – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.58 and last traded at $8.51, with a volume of 3464708 shares traded. The stock had previously closed at $7.93.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price objective on shares of Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Trading Up 0.8 %

The business has a 50-day moving average of $10.77 and a 200-day moving average of $12.17. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. The stock has a market cap of $962.06 million, a price-to-earnings ratio of 26.88 and a beta of 1.51.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The firm had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. As a group, research analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio is 93.33%.

Insider Transactions at Select Water Solutions

In related news, CEO John Schmitz sold 26,550 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total value of $349,398.00. Following the transaction, the chief executive officer now directly owns 2,898,578 shares of the company’s stock, valued at approximately $38,145,286.48. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WTTR. The Manufacturers Life Insurance Company grew its position in shares of Select Water Solutions by 42.3% in the third quarter. The Manufacturers Life Insurance Company now owns 49,676 shares of the company’s stock valued at $553,000 after purchasing an additional 14,777 shares during the last quarter. Barclays PLC boosted its stake in Select Water Solutions by 319.3% during the 3rd quarter. Barclays PLC now owns 140,648 shares of the company’s stock valued at $1,565,000 after purchasing an additional 107,107 shares during the period. Geode Capital Management LLC grew its holdings in Select Water Solutions by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after buying an additional 155,091 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Select Water Solutions by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 61,105 shares of the company’s stock worth $680,000 after buying an additional 1,073 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions during the third quarter worth approximately $483,000. Institutional investors 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.