Cannell Capital LLC Decreases Stock Position in Select Water Solutions, Inc. (NYSE:WTTR)
Cannell Capital LLC lessened its holdings in Select Water Solutions, Inc. (NYSE:WTTR – Free Report) by 37.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,913,352 shares of the company’s stock after selling 1,135,923 shares during the quarter. Select Water Solutions makes up 3.1% of Cannell Capital LLC’s holdings, making the stock its 12th largest holding. Cannell Capital LLC owned about 1.59% of Select Water Solutions worth $15,498,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY grew its position in Select Water Solutions by 79.2% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,665 shares of the company’s stock valued at $38,000 after acquiring an additional 2,062 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Select Water Solutions by 43.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,616 shares of the company’s stock valued at $53,000 after acquiring an additional 2,297 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Select Water Solutions by 38.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,036 shares of the company’s stock worth $57,000 after buying an additional 1,960 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Select Water Solutions during the 3rd quarter worth $78,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Select Water Solutions during the 3rd quarter worth $78,000. Institutional investors own 60.93% of the company’s stock.
Analyst Ratings Changes
Separately, Piper Sandler increased their price target on Select Water Solutions from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th.
Check Out Our Latest Research Report on WTTR
Select Water Solutions Trading Up 0.8 %
Shares of WTTR traded up $0.06 during midday trading on Friday, reaching $7.18. 818,475 shares of the stock were exchanged, compared to its average volume of 688,317. Select Water Solutions, Inc. has a 52 week low of $5.51 and a 52 week high of $9.56. The company’s 50 day moving average is $7.41 and its two-hundred day moving average is $7.85. The company has a market capitalization of $862.61 million, a P/E ratio of 13.55 and a beta of 1.87.
Select Water Solutions (NYSE:WTTR – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Select Water Solutions had a net margin of 3.42% and a return on equity of 6.21%. The company had revenue of $389.27 million for the quarter, compared to the consensus estimate of $402.59 million. On average, sell-side analysts expect that Select Water Solutions, Inc. will post 0.64 EPS for the current year.
Select Water Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Tuesday, November 7th were given a dividend of $0.06 per share. The ex-dividend date was Monday, November 6th. This represents a $0.24 dividend on an annualized basis and a yield of 3.34%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.05. Select Water Solutions’s dividend payout ratio (DPR) is presently 45.28%.
Select Water Solutions Profile (Free Report)
Select Water Solutions, Inc, an oilfield services company, provides water management and chemical solutions to the onshore oil and gas industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Oilfield Chemicals. The Water Services segment provides water-related services, including water transfer, flow back 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 on-site rental equipment and workforce accommodation services.
Further Reading
Want to see what other hedge funds are holding WTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Water Solutions, Inc. (NYSE:WTTR – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Select Water Solutions, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Select Water Solutions wasn’t on the list.
While Select Water Solutions currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for December 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.