Select Water Solutions (NYSE:WTTR) Shares Down 4.8% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Select Water Solutions Price Performance

The stock has a 50 day moving average of $12.39 and a two-hundred day moving average of $12.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The firm has a market capitalization of $1.15 billion, a P/E ratio of 32.25 and a beta of 1.77.

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

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio is currently 93.33%.

Insiders Place Their Bets

In other news, CEO John Schmitz sold 26,550 shares of Select Water Solutions stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total transaction of $349,398.00. Following the sale, the chief executive officer now owns 2,898,578 shares of the company’s stock, valued at approximately $38,145,286.48. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

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