Penn Capital Management Company LLC Increases Holdings in Select Water Solutions, Inc. $WTTR

Penn Capital Management Company LLC boosted its position in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 12.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,179,161 shares of the company’s stock after purchasing an additional 128,257 shares during the quarter. Penn Capital Management Company LLC’s holdings in Select Water Solutions were worth $12,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of WTTR. Farther Finance Advisors LLC increased its stake in shares of Select Water Solutions by 160.2% during the third quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after buying an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the 3rd quarter worth approximately $29,000. State of Alaska Department of Revenue purchased a new stake in Select Water Solutions during the third quarter valued at approximately $33,000. Osaic Holdings Inc. lifted its position in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Select Water Solutions by 2,704.0% in the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after acquiring an additional 5,408 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the sale, the chief executive officer directly owned 249,243 shares in the company, valued at $3,247,636.29. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.60% of the stock is currently owned by company insiders.

Select Water Solutions Trading Up 3.1%

WTTR stock opened at $14.60 on Wednesday. The firm has a market cap of $1.77 billion, a P/E ratio of 69.50 and a beta of 0.98. Select Water Solutions, Inc. has a 52-week low of $7.20 and a 52-week high of $15.45. The company’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $11.29. 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 (NYSE:WTTR) last announced its earnings results on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21). The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. As a group, equities analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WTTR. Piper Sandler increased their price target on Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Finally, Citigroup raised their price target on shares of Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a research 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.63.

Select Water Solutions 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.