Oppenheimer & Co. Inc. Makes New Investment in Select Water Solutions, Inc. (NYSE:WTTR)

Oppenheimer & Co. Inc. acquired a new position in shares of Select Water Solutions, Inc. (NYSE:WTTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,313 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTTR. New York State Teachers Retirement System boosted its position in shares of 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 valued at $93,000 after acquiring an additional 1,010 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Select Water Solutions in the third quarter valued at about $107,000. Creative Planning bought a new stake in shares of Select Water Solutions in the third quarter valued at about $112,000. CreativeOne Wealth LLC bought a new stake in shares of Select Water Solutions in the third quarter valued at about $133,000. Finally, Truist Financial Corp bought a new stake in shares of Select Water Solutions in the fourth quarter valued at about $134,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Down 1.2 %

WTTR stock opened at $10.03 on Monday. The company has a market cap of $1.20 billion, a PE ratio of 33.42 and a beta of 1.77. The business has a 50-day simple moving average of $12.93 and a 200 day simple moving average of $12.48. Select Water Solutions, Inc. has a 52 week low of $8.38 and a 52 week high of $15.14. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) EPS 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 analyst estimates 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 anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio (DPR) is presently 93.33%.

Analysts Set New Price Targets

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

Insider Activity at Select Water Solutions

In other Select Water Solutions news, CEO John Schmitz sold 73,450 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the completion of the transaction, the chief executive officer now owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by insiders.

Select Water Solutions 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.