Select Water Solutions, Inc. $WTTR Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,085,249 shares of the company’s stock after selling 33,575 shares during the period. Select Water Solutions accounts for about 1.4% of Encompass Capital Advisors LLC’s holdings, making the stock its 17th biggest position. Encompass Capital Advisors LLC’s holdings in Select Water Solutions were worth $47,204,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Select Water Solutions during the third quarter worth about $29,000. Osaic Holdings Inc. raised its stake in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Select Water Solutions by 2,704.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after acquiring an additional 5,408 shares during the period. Jones Financial Companies Lllp lifted its position in 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 worth $75,000 after acquiring an additional 6,980 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake 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. 81.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Select Water Solutions

In related news, CAO Brian Szymanski sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total value of $340,800.00. Following the transaction, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robin H. Fielder sold 27,010 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $16.80, for a total value of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares of the company’s stock, valued at $727,692. This represents a 38.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,010 shares of company stock valued at $3,925,971 over the last three months. Insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WTTR. Bank of America started coverage on shares of Select Water Solutions in a research report on Friday, May 29th. They set a “buy” rating and a $22.00 price objective for the company. Zacks Research cut Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Northland Securities set a $21.00 price objective on Select Water Solutions in a research report on Thursday, May 7th. Citigroup increased their target price on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.40.

Select Water Solutions Stock Down 6.9%

Shares of NYSE WTTR opened at $18.78 on Tuesday. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $21.67. The firm’s 50 day moving average price is $19.07 and its 200 day moving average price is $15.94. The firm has a market cap of $2.59 billion, a P/E ratio of 89.44 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. As a group, sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s dividend 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.