Select Water Solutions, Inc. $WTTR Position Lifted by Meros Investment Management LP

Meros Investment Management LP grew its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 939,857 shares of the company’s stock after purchasing an additional 39,471 shares during the quarter. Select Water Solutions makes up about 3.9% of Meros Investment Management LP’s investment portfolio, making the stock its 6th biggest position. Meros Investment Management LP owned 0.78% of Select Water Solutions worth $9,887,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Select Water Solutions in the 3rd quarter valued at $29,000. Osaic Holdings Inc. boosted its holdings in shares of Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $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% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $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% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Select Water Solutions by 190.5% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WTTR. Wall Street Zen lowered shares of Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Bank of America initiated coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Select Water Solutions has an average rating of “Buy” and an average price target of $22.40.

Insider Activity

In related news, COO Michael Skarke sold 20,000 shares of Select Water Solutions stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total transaction of $355,600.00. Following the sale, the chief operating officer owned 360,738 shares of the company’s stock, valued at $6,413,921.64. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 71,578 shares of the company’s stock, valued at $1,341,371.72. The trade was a 38.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 222,010 shares of company stock worth $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Select Water Solutions Stock Performance

Select Water Solutions stock opened at $18.46 on Tuesday. Select Water Solutions, Inc. has a 12-month low of $7.86 and a 12-month high of $20.48. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 87.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. The firm’s fifty day moving average price is $17.38 and its 200 day moving average price is $14.16.

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

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions’s payout ratio is 133.33%.

Select Water Solutions 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.