Clare Market Investments LLC Takes $708,000 Position in Select Water Solutions, Inc. $WTTR

Clare Market Investments LLC acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 46,275 shares of the company’s stock, valued at approximately $708,000.

Other hedge funds have also added to or reduced their stakes in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Select Water Solutions during the first quarter worth $6,426,000. Inspire Investing LLC boosted its holdings in Select Water Solutions by 7.2% in the 1st quarter. Inspire Investing LLC now owns 59,261 shares of the company’s stock valued at $907,000 after purchasing an additional 3,990 shares during the period. Apollon Wealth Management LLC acquired a new position in shares of Select Water Solutions during the 1st quarter worth approximately $368,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Select Water Solutions during the first quarter worth approximately $872,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Select Water Solutions by 14.4% in the first quarter. Pictet Asset Management Holding SA now owns 19,127 shares of the company’s stock valued at $293,000 after buying an additional 2,414 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Stock Down 0.4%

NYSE:WTTR opened at $18.02 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. Select Water Solutions, Inc. has a one year low of $7.86 and a one year high of $20.48. The firm’s 50 day simple moving average is $18.36 and its 200 day simple moving average is $14.98. The company has a market cap of $2.49 billion, a PE ratio of 85.82 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. During the same period in the prior year, the business posted $0.08 earnings per share. Select Water Solutions’s quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts anticipate that Select Water Solutions, Inc. will post 0.45 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date 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 133.33%.

Analysts Set New Price Targets

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

Insider Activity

In other Select Water Solutions news, COO Michael Skarke sold 20,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total transaction of $355,600.00. Following the completion of the sale, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This trade represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Alan Burnett sold 45,316 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is owned by corporate insiders.

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.