Longboard Asset Management LP Invests $167,000 in Select Water Solutions, Inc. (NYSE:WTTR)

Longboard Asset Management LP purchased a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,621 shares of the company’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WTTR. Squarepoint Ops LLC bought a new position in shares of Select Water Solutions during the second quarter worth $298,000. The Manufacturers Life Insurance Company boosted its position in shares of Select Water Solutions by 12.9% during the second quarter. The Manufacturers Life Insurance Company now owns 34,899 shares of the company’s stock worth $373,000 after purchasing an additional 3,997 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Select Water Solutions by 37.9% during the third quarter. GAMMA Investing LLC now owns 4,149 shares of the company’s stock worth $46,000 after purchasing an additional 1,141 shares in the last quarter. CWM LLC boosted its position in shares of Select Water Solutions by 182.8% during the third quarter. CWM LLC now owns 11,889 shares of the company’s stock worth $132,000 after purchasing an additional 7,685 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Select Water Solutions by 336.0% during the third quarter. Ritholtz Wealth Management now owns 111,515 shares of the company’s stock worth $1,241,000 after purchasing an additional 85,941 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Trading Up 2.1 %

WTTR opened at $13.36 on Wednesday. The stock has a market capitalization of $1.59 billion, a P/E ratio of 22.64 and a beta of 1.73. Select Water Solutions, Inc. has a 12 month low of $7.40 and a 12 month high of $15.14. The firm’s fifty day simple moving average is $13.67 and its 200 day simple moving average is $12.30. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $371.35 million for the quarter, compared to analysts’ expectations of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, research analysts anticipate that Select Water Solutions, Inc. will post 0.39 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $0.28 annualized dividend and a yield of 2.10%. Select Water Solutions’s dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Separately, Citigroup lifted their price target on shares of Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Company Profile

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.