Select Water Solutions, Inc. $WTTR Shares Bought by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC grew its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 31.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,118,824 shares of the company’s stock after acquiring an additional 746,534 shares during the period. Select Water Solutions comprises approximately 1.3% of Encompass Capital Advisors LLC’s holdings, making the stock its 28th biggest holding. Encompass Capital Advisors LLC’s holdings in Select Water Solutions were worth $32,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WTTR. Franklin Resources Inc. increased its holdings in Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company’s stock valued at $81,278,000 after purchasing an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Select Water Solutions by 2,133.9% during the third quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company’s stock worth $22,783,000 after purchasing an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Select Water Solutions by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company’s stock worth $19,258,000 after buying an additional 997,847 shares during the period. Millennium Management LLC boosted its position in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after buying an additional 802,833 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Select Water Solutions by 16.0% in the third quarter. Wellington Management Group LLP now owns 5,126,486 shares of the company’s stock valued at $54,802,000 after buying an additional 705,612 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Price Performance

WTTR stock opened at $18.02 on Thursday. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions, Inc. has a 52-week low of $7.86 and a 52-week high of $20.48. The stock’s 50 day moving average is $17.49 and its two-hundred day moving average is $14.27. The company has a market capitalization of $2.49 billion, a PE ratio of 85.79 and a beta of 1.00.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. During the same period in the prior year, the business posted $0.08 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Analysts predict that Select Water Solutions, Inc. will post 0.38 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, April 30th. Select Water Solutions’s dividend payout ratio is 133.33%.

Insider Activity at Select Water Solutions

In other Select Water Solutions news, Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $18.74, for a total transaction of $849,221.84. Following the completion of the transaction, the director directly owned 71,578 shares of the company’s stock, valued at $1,341,371.72. This trade represents a 38.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Skarke sold 90,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the completion of the sale, the chief operating officer directly owned 380,738 shares of the company’s stock, valued at $6,590,574.78. The trade was a 19.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 222,010 shares of company stock valued at $3,925,971 in the last 90 days. 6.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WTTR has been the topic of several recent research reports. Wall Street Zen lowered Select Water Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup lifted their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Bank of America began coverage on shares of Select Water Solutions in a research note on Friday, May 29th. They issued a “buy” rating and a $22.00 target price for the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Piper Sandler boosted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $22.40.

Select Water Solutions Company 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.