AlphaQuest LLC Buys 15,835 Shares of Select Water Solutions, Inc. $WTTR

AlphaQuest LLC grew its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 42.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,932 shares of the company’s stock after acquiring an additional 15,835 shares during the period. AlphaQuest LLC’s holdings in Select Water Solutions were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WTTR. Cambridge Investment Research Advisors Inc. bought a new position in shares of Select Water Solutions in the first quarter worth about $123,000. Principal Financial Group Inc. raised its stake in shares of Select Water Solutions by 3.9% in the first quarter. Principal Financial Group Inc. now owns 48,603 shares of the company’s stock worth $510,000 after acquiring an additional 1,822 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Select Water Solutions by 187.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 88,839 shares of the company’s stock worth $933,000 after buying an additional 57,889 shares during the period. M&T Bank Corp acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $244,000. Finally, Cerity Partners LLC acquired a new stake in shares of Select Water Solutions during the 1st quarter worth approximately $155,000. 81.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WTTR shares. Piper Sandler started coverage on shares of Select Water Solutions in a research report on Tuesday, July 15th. They set an “overweight” rating and a $15.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $15.00.

Select Water Solutions Stock Up 3.9%

Shares of NYSE WTTR opened at $11.84 on Thursday. The stock has a market cap of $1.44 billion, a P/E ratio of 38.20 and a beta of 1.24. The firm has a 50 day moving average price of $9.95 and a 200 day moving average price of $9.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 2.01. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.14.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.69%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. Analysts expect that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, November 7th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, November 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. Select Water Solutions’s payout ratio is currently 90.32%.

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.