Northland Securities Begins Coverage on Select Water Solutions (NYSE:WTTR)

Northland Securities initiated coverage on shares of Select Water Solutions (NYSE:WTTR) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a market perform rating and a $11.50 target price on the stock.

Select Water Solutions Stock Performance

WTTR stock opened at $9.36 on Monday. The firm has a market cap of $1.11 billion, a PE ratio of 12.82 and a beta of 1.66. The firm’s 50 day moving average price is $8.87 and its 200-day moving average price is $7.94. Select Water Solutions has a one year low of $6.78 and a one year high of $9.74.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.16 by $0.11. The firm had revenue of $374.90 million for the quarter, compared to analyst estimates of $378.12 million. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. Equities research analysts predict that Select Water Solutions will post 0.73 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, February 6th. Select Water Solutions’s payout ratio is 32.88%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total value of $198,490.00. Following the sale, the senior vice president now owns 255,587 shares of the company’s stock, valued at $2,205,715.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total value of $198,490.00. Following the sale, the senior vice president now owns 255,587 shares of the company’s stock, valued at $2,205,715.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian Szymanski sold 8,080 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total transaction of $67,306.40. Following the completion of the transaction, the chief accounting officer now owns 84,304 shares of the company’s stock, valued at approximately $702,252.32. The disclosure for this sale can be found here. Insiders have sold a total of 46,511 shares of company stock valued at $398,053 over the last quarter. 8.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors have recently modified their holdings of WTTR. Allspring Global Investments Holdings LLC acquired a new position in shares of Select Water Solutions in the third quarter worth $28,000. New York State Teachers Retirement System acquired a new position in shares of Select Water Solutions during the fourth quarter worth $54,000. Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions during the third quarter worth $95,000. Mackenzie Financial Corp acquired a new position in shares of Select Water Solutions during the third quarter worth $100,000. Finally, Clough Capital Partners L P acquired a new position in shares of Select Water Solutions during the third quarter worth $112,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.