JPMorgan Chase & Co. Has $2.35 Million Stock Position in Select Water Solutions, Inc. $WTTR

JPMorgan Chase & Co. decreased its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 74.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,738 shares of the company’s stock after selling 629,311 shares during the period. JPMorgan Chase & Co. owned 0.18% of Select Water Solutions worth $2,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WTTR. Deprince Race & Zollo Inc. boosted its position in Select Water Solutions by 1,334.5% during the third quarter. Deprince Race & Zollo Inc. now owns 3,783,865 shares of the company’s stock valued at $40,450,000 after purchasing an additional 3,520,091 shares during the last quarter. Franklin Resources Inc. raised its holdings in Select Water Solutions by 78.1% during the third quarter. Franklin Resources Inc. now owns 4,939,877 shares of the company’s stock valued at $52,807,000 after buying an additional 2,166,649 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock valued at $22,783,000 after buying an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Select Water Solutions by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock valued at $19,258,000 after buying an additional 997,847 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Select Water Solutions by 466.8% during the first 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 in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Insider Transactions at Select Water Solutions

In related news, CEO John Schmitz sold 33,916 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.03, for a total transaction of $441,925.48. Following the transaction, the chief executive officer directly owned 249,243 shares in the company, valued at $3,247,636.29. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.40% of the stock is owned by corporate insiders.

Select Water Solutions Stock Performance

WTTR opened at $15.17 on Tuesday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 72.22 and a beta of 0.97. The stock’s 50 day moving average price is $13.71 and its two-hundred day moving average price is $11.89. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31. Select Water Solutions, Inc. has a 12-month low of $7.20 and a 12-month high of $16.00.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). The business had revenue of $346.50 million during the quarter, compared to analyst estimates of $320.85 million. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, equities analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, February 6th. Select Water Solutions’s payout ratio is currently 133.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their target price on Select Water Solutions from $16.50 to $18.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Thursday, February 19th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Finally, Piper Sandler raised their target price on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $17.00.

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.