Aventail Capital Group LP Makes New $3.61 Million Investment in Select Water Solutions, Inc. $WTTR

Aventail Capital Group LP bought a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 342,955 shares of the company’s stock, valued at approximately $3,608,000.

Several other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Select Water Solutions by 10.1% in the first 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. boosted its position in Select Water Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC boosted 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 buying an additional 802,833 shares during the period. Jones Financial Companies Lllp grew its holdings in Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after acquiring an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock worth $12,726,000 after acquiring an additional 576,660 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

NYSE:WTTR opened at $18.02 on Thursday. The company has a market capitalization of $2.49 billion, a PE ratio of 85.79 and a beta of 1.00. The company has a 50 day simple moving average of $17.49 and a two-hundred day simple moving average of $14.27. 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, Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $20.48.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 business 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 firm posted $0.08 EPS. Select Water Solutions’s revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Select Water Solutions, Inc. will post 0.38 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.6%. Select Water Solutions’s dividend payout ratio (DPR) is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In related news, CAO Brian Szymanski sold 20,000 shares of Select Water Solutions stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the completion of the sale, the chief accounting officer owned 114,752 shares of the company’s stock, valued at approximately $1,955,374.08. This trade represents a 14.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 222,010 shares of company stock worth $3,925,971. 6.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WTTR. Piper Sandler boosted their target price 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. Wall Street Zen lowered shares of Select Water Solutions from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Citigroup boosted their target price on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Select Water Solutions has a consensus rating of “Buy” and a consensus target price of $22.40.

Select Water Solutions Company 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.