CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys New Stake in Select Water Solutions, Inc. $WTTR

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Select Water Solutions, Inc. (NYSE:WTTR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 420,000 shares of the company’s stock, valued at approximately $6,426,000.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Select Water Solutions by 0.6% during the fourth quarter. Barclays PLC now owns 147,581 shares of the company’s stock worth $1,553,000 after buying an additional 857 shares during the period. Inspire Investing LLC raised its holdings in shares of Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock valued at $581,000 after buying an additional 1,023 shares during the period. ProShare Advisors LLC raised its holdings in shares of Select Water Solutions by 8.4% in the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock valued at $182,000 after buying an additional 1,336 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Select Water Solutions by 2.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Select Water Solutions by 10.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock worth $186,000 after acquiring an additional 1,692 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WTTR has been the subject of a number of research analyst reports. Wall Street Zen cut Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Bank of America assumed coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price target on the stock. Piper Sandler increased their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup raised their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $22.40.

Insider Buying and Selling

In related news, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the transaction, the director owned 71,578 shares in the company, valued at $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the completion of the transaction, the chief operating officer owned 380,738 shares of the company’s stock, valued at $6,590,574.78. This represents a 19.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 222,010 shares of company stock valued at $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Select Water Solutions Trading Down 0.1%

NYSE:WTTR opened at $17.97 on Monday. The firm has a market cap of $2.48 billion, a PE ratio of 85.57 and a beta of 0.98. The stock has a fifty day moving average price of $18.33 and a 200 day moving average price of $14.93. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. During the same period in the previous year, the firm posted $0.08 EPS. Select Water Solutions’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.45 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Select Water Solutions’s payout ratio is currently 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.