Select Water Solutions (NYSE:WTTR) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Select Water Solutions (NYSE:WTTR) released its quarterly earnings results on Tuesday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05), Briefing.com reports. The business had revenue of $366.60 million during the quarter, compared to analyst estimates of $369.29 million. Select Water Solutions had a net margin of 4.28% and a return on equity of 7.48%. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share.

Select Water Solutions Price Performance

NYSE WTTR opened at $9.13 on Thursday. The company’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $8.01. Select Water Solutions has a 12 month low of $6.78 and a 12 month high of $9.74. The company has a market capitalization of $1.08 billion, a P/E ratio of 14.04 and a beta of 1.65.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.63%. Select Water Solutions’s payout ratio is currently 36.92%.

Insider Buying and Selling

In other news, CAO Brian Szymanski sold 8,080 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total transaction of $67,306.40. Following the sale, the chief accounting officer now owns 84,304 shares in the company, valued at $702,252.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Select Water Solutions news, CFO Nick L. Swyka sold 9,009 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total value of $77,026.95. Following the transaction, the chief financial officer now owns 272,140 shares in the company, valued at approximately $2,326,797. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Brian Szymanski sold 8,080 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 in the company, valued at approximately $702,252.32. The disclosure for this sale can be found here. Insiders have sold 46,511 shares of company stock worth $398,053 in the last ninety days. 8.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Northland Securities assumed coverage on shares of Select Water Solutions in a research note on Monday, April 22nd. They set a “market perform” rating and a $11.50 price objective on the stock.

About Select Water Solutions

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.