Encompass Capital Advisors LLC Increases Stock Position in Select Water Solutions, Inc. $WTTR

Encompass Capital Advisors LLC lifted its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 31.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,118,824 shares of the company’s stock after purchasing an additional 746,534 shares during the period. Select Water Solutions comprises approximately 1.3% of Encompass Capital Advisors LLC’s holdings, making the stock its 28th biggest holding. Encompass Capital Advisors LLC owned 2.57% of Select Water Solutions worth $32,810,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its position in Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock worth $81,278,000 after buying an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after acquiring an additional 2,035,870 shares during the last quarter. Russell Investments Group Ltd. increased its position in Select Water Solutions by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after purchasing an additional 997,847 shares in the last quarter. Millennium Management LLC increased its position in Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after purchasing an additional 802,833 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Select Water Solutions by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after purchasing an additional 705,612 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WTTR. Bank of America began 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 target on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Piper Sandler lifted their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Wall Street Zen lowered Select Water Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $22.40.

Insider Transactions at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the completion of the sale, the chief accounting officer directly owned 114,752 shares in the company, valued at $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.74, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 222,010 shares of company stock valued at $3,925,971. Corporate insiders own 6.20% of the company’s stock.

Select Water Solutions Trading Down 1.0%

Shares of WTTR stock opened at $18.02 on Thursday. The firm’s 50-day simple moving average is $17.49 and its 200-day simple moving average is $14.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.76. Select Water Solutions, Inc. has a 1-year low of $7.86 and a 1-year high of $20.48. The firm has a market cap of $2.49 billion, a P/E ratio of 85.79 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million during the quarter, compared to the consensus estimate of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. Select Water Solutions’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, equities analysts forecast that Select Water Solutions, Inc. will post 0.38 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is presently 133.33%.

About Select Water Solutions

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.