OP Asset Management Ltd Takes $725,000 Position in Select Water Solutions, Inc. $WTTR

OP Asset Management Ltd purchased a new position in Select Water Solutions, Inc. (NYSE:WTTR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,388 shares of the company’s stock, valued at approximately $725,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions in the 3rd quarter valued at about $29,000. Osaic Holdings Inc. boosted 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 last quarter. CIBC Private Wealth Group LLC boosted 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 last quarter. Jones Financial Companies Lllp boosted 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 last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Select Water Solutions by 190.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,916 shares of the company’s stock valued at $77,000 after purchasing an additional 5,847 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on WTTR. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. Piper Sandler upped their target price on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Bank of America initiated coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 target price for the company. Northland Securities set a $21.00 target price on Select Water Solutions in a research note on Thursday, May 7th. Finally, Citigroup lifted their price target on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $22.40.

Insiders Place Their Bets

In other news, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the transaction, the director directly owned 71,578 shares in the company, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,557,900.00. Following the completion of the sale, the chief operating officer owned 380,738 shares in the company, valued at approximately $6,590,574.78. This trade represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is owned by company insiders.

Select Water Solutions Stock Up 2.1%

WTTR stock opened at $20.05 on Wednesday. Select Water Solutions, Inc. has a one year low of $7.86 and a one year high of $20.48. The firm has a market cap of $2.77 billion, a PE ratio of 95.48 and a beta of 1.00. The firm’s 50 day moving average price is $18.17 and its 200-day moving average price is $14.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. On average, equities research analysts anticipate that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is 133.33%.

Select Water Solutions Company Profile

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.