Select Water Solutions (NYSE:WTTR) Trading Down 4.8% – Here’s What Happened

Shares of Select Water Solutions, Inc. (NYSE:WTTR) traded down 4.8% during mid-day trading on Monday . The stock traded as low as $9.36 and last traded at $9.18. 107,673 shares changed hands during trading, a decline of 90% from the average session volume of 1,050,880 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a report on Friday, January 10th.

Select Water Solutions Stock Down 2.0 %

The company has a market cap of $1.13 billion, a price-to-earnings ratio of 31.42 and a beta of 1.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $12.55 and its 200-day simple moving average is $12.42.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). The company had revenue of $349.05 million for the quarter, compared to analysts’ expectations of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. As a group, sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $0.28 annualized dividend and a dividend yield of 2.96%. Select Water Solutions’s dividend payout ratio is currently 93.33%.

Insiders Place Their Bets

In related news, CEO John Schmitz sold 26,550 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value of $349,398.00. Following the sale, the chief executive officer now directly owns 2,898,578 shares in the company, valued at $38,145,286.48. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in Select Water Solutions by 128.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock valued at $36,000 after acquiring an additional 1,525 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after buying an additional 1,007 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in Select Water Solutions in the 3rd quarter worth about $107,000. Amundi grew its holdings in Select Water Solutions by 83.8% in the 4th quarter. Amundi now owns 9,010 shares of the company’s stock valued at $119,000 after buying an additional 4,109 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after acquiring an additional 1,143 shares during the period. Hedge funds and other institutional investors own 81.73% of the company’s stock.

About Select Water Solutions

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.