JPMorgan Chase & Co. Acquires 329,353 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

JPMorgan Chase & Co. boosted its stake in Select Water Solutions, Inc. (NYSE:WTTR) by 32.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,345,964 shares of the company’s stock after acquiring an additional 329,353 shares during the period. JPMorgan Chase & Co. owned 1.13% of Select Water Solutions worth $14,981,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Select Water Solutions by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,149 shares of the company’s stock valued at $46,000 after purchasing an additional 1,141 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Select Water Solutions by 13.8% in the third quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after buying an additional 1,010 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Select Water Solutions during the 3rd quarter valued at approximately $107,000. Creative Planning bought a new stake in Select Water Solutions during the 3rd quarter valued at approximately $112,000. Finally, CWM LLC grew its holdings in shares of Select Water Solutions by 182.8% during the 3rd quarter. CWM LLC now owns 11,889 shares of the company’s stock worth $132,000 after acquiring an additional 7,685 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Select Water Solutions Trading Up 0.1 %

Shares of NYSE WTTR opened at $13.57 on Friday. The stock has a market cap of $1.62 billion, a P/E ratio of 23.00 and a beta of 1.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. Select Water Solutions, Inc. has a 1 year low of $6.99 and a 1 year high of $15.14. The firm has a 50-day moving average of $13.63 and a 200 day moving average of $11.91.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The company had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.07 dividend. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.06%. Select Water Solutions’s payout ratio is presently 47.46%.

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.