Select Water Solutions (NYSE:WTTR) Now Covered by Northland Securities

Northland Securities started coverage on shares of Select Water Solutions (NYSE:WTTR) in a research note released on Monday morning, MarketBeat reports. The firm issued a market perform rating and a $11.50 target price on the stock.

Select Water Solutions Stock Performance

Shares of NYSE WTTR opened at $9.42 on Monday. The company has a market capitalization of $1.11 billion, a P/E ratio of 12.73 and a beta of 1.66. Select Water Solutions has a 52-week low of $6.78 and a 52-week high of $9.74. The company’s 50 day moving average price is $8.91 and its 200-day moving average price is $7.95.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.11. The firm had revenue of $374.90 million for the quarter, compared to the consensus estimate of $378.12 million. Select Water Solutions had a net margin of 4.69% and a return on equity of 8.46%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. Analysts forecast that Select Water Solutions will post 0.7 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, May 15th. Stockholders of record on Friday, May 3rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.55%. Select Water Solutions’s dividend payout ratio is currently 32.88%.

Insider Activity

In other news, SVP Christopher Kile George sold 23,000 shares of Select Water Solutions stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the completion of the sale, the senior vice president now owns 255,587 shares in the company, valued at approximately $2,205,715.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Christopher Kile George sold 23,000 shares of Select Water Solutions stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $8.63, for a total value of $198,490.00. Following the completion of the sale, the senior vice president now owns 255,587 shares in the company, valued at approximately $2,205,715.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction on Monday, February 26th. The shares were sold at an average price of $8.60, for a total transaction of $55,229.20. Following the completion of the sale, the chief accounting officer now owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The disclosure for this sale can be found here. Insiders sold 46,511 shares of company stock worth $398,053 in the last quarter. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Select Water Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $28,000. New York State Teachers Retirement System purchased a new position in shares of Select Water Solutions in the 4th quarter worth about $54,000. Principal Financial Group Inc. purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $95,000. Mackenzie Financial Corp purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $100,000. Finally, Clough Capital Partners L P purchased a new position in shares of Select Water Solutions in the 3rd quarter worth about $112,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.