Select Water Solutions, Inc. $WTTR Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP increased its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 55.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,285 shares of the company’s stock after purchasing an additional 222,849 shares during the quarter. Cinctive Capital Management LP’s holdings in Select Water Solutions were worth $6,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock worth $5,582,000 after buying an additional 48,896 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after buying an additional 2,356 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after buying an additional 802,833 shares in the last quarter. Jones Financial Companies Lllp lifted its position 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 valued at $75,000 after acquiring an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after acquiring an additional 576,660 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WTTR. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Citigroup upped their target price on Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Piper Sandler increased their price target on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.63.

Insiders Place Their Bets

In related news, CEO John Schmitz sold 33,916 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the sale, the chief executive officer directly owned 249,243 shares of the company’s stock, valued at approximately $3,247,636.29. This represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.40% of the company’s stock.

Select Water Solutions Trading Up 1.0%

NYSE WTTR opened at $14.02 on Friday. Select Water Solutions, Inc. has a twelve month low of $7.20 and a twelve month high of $15.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.57. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 66.74 and a beta of 0.98. The firm’s 50 day moving average price is $12.66 and its two-hundred day moving average price is $11.18.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). The business had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $320.85 million. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. Select Water Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) EPS. Equities analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s payout ratio is presently 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.