Swiss National Bank Raises Position in Select Water Solutions, Inc. $WTTR

Swiss National Bank increased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 19.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,100 shares of the company’s stock after buying an additional 36,700 shares during the quarter. Swiss National Bank’s holdings in Select Water Solutions were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of Select Water Solutions by 56.4% during the fourth quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after acquiring an additional 2,786,172 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Select Water Solutions by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,364,488 shares of the company’s stock worth $66,955,000 after buying an additional 58,875 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Select Water Solutions by 16.0% during the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock worth $54,802,000 after buying an additional 705,612 shares during the period. State Street Corp increased its position in shares of Select Water Solutions by 15.1% in the 4th quarter. State Street Corp now owns 3,246,517 shares of the company’s stock valued at $34,153,000 after acquiring an additional 426,822 shares during the period. Finally, Encompass Capital Advisors LLC raised its stake in Select Water Solutions by 31.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company’s stock worth $32,810,000 after acquiring an additional 746,534 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WTTR. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Piper Sandler increased 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. Raymond James Financial restated 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. Northland Securities set a $21.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Zacks Research cut shares of Select Water Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Select Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

Insider Activity

In other Select Water Solutions news, Director Robin H. Fielder sold 27,010 shares of the company’s 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 owned 43,315 shares in the company, valued at approximately $727,692. This represents a 38.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Szymanski sold 20,000 shares of the stock in a transaction that occurred on 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 $1,955,374.08. This represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 222,010 shares of company stock valued at $3,925,971. 6.20% of the stock is currently owned by corporate insiders.

Select Water Solutions Stock Down 0.9%

Shares of WTTR stock opened at $17.85 on Thursday. The stock has a 50 day moving average of $18.98 and a 200 day moving average of $16.04. 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 stock has a market cap of $2.47 billion, a P/E ratio of 84.98 and a beta of 0.98. Select Water Solutions, Inc. has a twelve month low of $7.86 and a twelve month high of $21.67.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business 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 business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, sell-side analysts expect 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 dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Select Water Solutions’s payout ratio is currently 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.