Empowered Funds LLC Increases Holdings in Select Water Solutions, Inc. $WTTR

Empowered Funds LLC grew its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 574,438 shares of the company’s stock after purchasing an additional 33,614 shares during the quarter. Empowered Funds LLC’s holdings in Select Water Solutions were worth $8,789,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in Select Water Solutions by 3.5% during the first quarter. Quantinno Capital Management LP now owns 42,180 shares of the company’s stock valued at $645,000 after buying an additional 1,438 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Select Water Solutions during the first quarter worth about $164,000. Punch & Associates Investment Management Inc. increased its holdings in Select Water Solutions by 1.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,528,895 shares of the company’s stock worth $23,392,000 after buying an additional 27,704 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Select Water Solutions in the first quarter worth about $602,000. Finally, Gabelli Funds LLC raised its position in Select Water Solutions by 1.7% in the first quarter. Gabelli Funds LLC now owns 337,484 shares of the company’s stock worth $5,164,000 after acquiring an additional 5,525 shares during the period. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Price Performance

NYSE WTTR opened at $18.21 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.52 billion, a PE ratio of 86.71 and a beta of 0.98. Select Water Solutions, Inc. has a 52 week low of $7.86 and a 52 week high of $21.67. The firm’s 50-day simple moving average is $18.96 and its two-hundred day simple moving average is $16.09.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 firm 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 company earned $0.08 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts predict that Select Water Solutions, Inc. will post 0.46 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is currently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other Select Water Solutions news, COO Michael Skarke sold 90,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the sale, the chief operating officer owned 380,738 shares of the company’s stock, valued at $6,590,574.78. The trade was a 19.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Alan Burnett sold 45,316 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $18.74, for a total value of $849,221.84. Following the sale, the director owned 71,578 shares in the company, valued at approximately $1,341,371.72. This represents a 38.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,010 shares of company stock valued at $3,925,971 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WTTR shares. Zacks Research downgraded shares of 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 target on shares of Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler lifted their price target on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Bank of America began coverage on Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Citigroup increased their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.