Lombard Odier Asset Management USA Corp Has $1.48 Million Stock Position in Select Water Solutions, Inc. $WTTR

Lombard Odier Asset Management USA Corp reduced its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 23.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,870 shares of the company’s stock after selling 30,272 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Select Water Solutions were worth $1,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 purchasing an additional 48,896 shares during 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 valued at $569,000 after purchasing an additional 2,356 shares in the last quarter. Millennium Management LLC increased its stake in Select Water Solutions by 466.8% in the 1st 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 during the last quarter. Jones Financial Companies Lllp increased its stake in 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 buying an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in 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 worth $12,726,000 after buying an additional 576,660 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions 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 transaction, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. This trade represents a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robin H. Fielder sold 27,010 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $16.80, for a total value of $453,768.00. Following the transaction, the director directly owned 43,315 shares in the company, valued at approximately $727,692. This trade represents a 38.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Select Water Solutions Stock Performance

NYSE WTTR opened at $20.18 on Friday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 96.08 and a beta of 0.98. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average price is $19.08 and its two-hundred day moving average price is $15.86. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $21.67.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. During the same quarter last year, the firm posted $0.08 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts anticipate that Select Water Solutions, Inc. will post 0.46 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WTTR. Bank of America initiated coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They set a “buy” rating and a $22.00 price objective for the company. Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Citigroup upped their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

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.