Select Water Solutions, Inc. $WTTR Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC reduced its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,151,131 shares of the company’s stock after selling 28,030 shares during the quarter. Penn Capital Management Company LLC’s holdings in Select Water Solutions were worth $12,122,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WTTR. Royal Bank of Canada lifted its holdings in shares of Select Water Solutions by 10.1% in the 1st quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after buying an additional 48,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Select Water Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC lifted its holdings in shares of Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after buying an additional 802,833 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after buying an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after buying an additional 576,660 shares during the period. 81.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Select Water Solutions

In related news, Director Robin H. Fielder sold 27,010 shares of Select Water Solutions stock in a transaction on Friday, May 8th. The stock was sold at an average price of $16.80, for a total transaction of $453,768.00. Following the completion of the transaction, the director directly owned 43,315 shares of the company’s stock, valued at approximately $727,692. The trade was a 38.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $17.31, for a total value of $1,557,900.00. Following the transaction, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. This represents a 19.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,010 shares of company stock valued at $3,925,971. Company insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WTTR shares. Piper Sandler raised their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $24.00 price target on shares of Select Water Solutions in a report on Thursday, May 7th. Northland Securities set a $21.00 price objective on Select Water Solutions in a report on Thursday, May 7th. Finally, Wall Street Zen raised Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $22.50.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $19.27 on Wednesday. The stock has a fifty day moving average price of $16.36 and a 200 day moving average price of $13.34. The stock has a market cap of $2.66 billion, a PE ratio of 91.76 and a beta of 0.99. Select Water Solutions, Inc. has a 1 year low of $7.86 and a 1 year high of $20.48. 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 data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Sell-side analysts forecast that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.5%. 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.