Select Water Solutions (NYSE:WTTR) Shares Gap Down to $9.05

Shares of Select Water Solutions, Inc. (NYSE:WTTR) gapped down prior to trading on Friday . The stock had previously closed at $9.05, but opened at $8.60. Select Water Solutions shares last traded at $9.04, with a volume of 438,680 shares.

Analyst Upgrades and Downgrades

Separately, Northland Securities began coverage on shares of Select Water Solutions in a report on Monday, April 22nd. They set a “market perform” rating and a $11.50 price objective for the company.

Select Water Solutions Stock Up 1.2 %

The company has a fifty day moving average price of $9.04 and a 200-day moving average price of $8.03. The stock has a market capitalization of $1.08 billion, a P/E ratio of 14.09 and a beta of 1.65. The company has a quick ratio of 1.96, a current ratio of 1.94 and a debt-to-equity ratio of 0.08.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The business had revenue of $366.60 million during the quarter, compared to analysts’ expectations of $369.29 million. Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. As a group, research analysts forecast that Select Water Solutions, Inc. will post 0.67 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

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. This represents a $0.24 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, May 2nd. Select Water Solutions’s payout ratio is 36.92%.

Insider Activity at Select Water Solutions

In other news, CFO Nick L. Swyka sold 9,009 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $8.55, for a total value of $77,026.95. Following the completion of the sale, the chief financial officer now owns 272,140 shares in the company, valued at approximately $2,326,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction on Monday, February 26th. The stock was 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 directly owns 95,936 shares in the company, valued at $825,049.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nick L. Swyka sold 9,009 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total transaction of $77,026.95. Following the completion of the transaction, the chief financial officer now owns 272,140 shares in the company, valued at $2,326,797. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,511 shares of company stock worth $398,053. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Select Water Solutions by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,031,868 shares of the company’s stock valued at $45,782,000 after buying an additional 300,115 shares during the period. Vanguard Group Inc. increased its position in Select Water Solutions by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,063,979 shares of the company’s stock valued at $40,259,000 after purchasing an additional 464,946 shares during the period. Wellington Management Group LLP raised its holdings in shares of Select Water Solutions by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 4,699,066 shares of the company’s stock valued at $35,666,000 after purchasing an additional 145,714 shares in the last quarter. Gendell Jeffrey L lifted its position in shares of Select Water Solutions by 12.1% in the 3rd quarter. Gendell Jeffrey L now owns 1,121,189 shares of the company’s stock worth $8,913,000 after purchasing an additional 121,199 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Select Water Solutions by 14.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,083,135 shares of the company’s stock valued at $8,221,000 after purchasing an additional 136,489 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

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.