Kings Path Partners LLC Decreases Stake in Select Water Solutions, Inc. (NYSE:WTTR)

Kings Path Partners LLC cut its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 38.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,596 shares of the company’s stock after selling 13,595 shares during the quarter. Kings Path Partners LLC’s holdings in Select Water Solutions were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its position in Select Water Solutions by 24.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after buying an additional 1,007 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Select Water Solutions by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after buying an additional 1,143 shares during the last quarter. Inspire Advisors LLC raised its position in Select Water Solutions by 6.2% during the 4th quarter. Inspire Advisors LLC now owns 20,751 shares of the company’s stock worth $275,000 after buying an additional 1,216 shares during the last quarter. Swiss National Bank raised its position in Select Water Solutions by 0.8% during the 4th quarter. Swiss National Bank now owns 181,900 shares of the company’s stock worth $2,408,000 after buying an additional 1,400 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Select Water Solutions by 128.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,711 shares of the company’s stock worth $36,000 after buying an additional 1,525 shares during the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on WTTR. Citigroup reduced their price target on shares of Select Water Solutions from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Raymond James cut their target price on shares of Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Friday, May 9th.

Select Water Solutions Price Performance

NYSE:WTTR opened at $8.23 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. The firm has a market cap of $989.37 million, a price-to-earnings ratio of 27.43 and a beta of 1.28. The company has a 50 day moving average price of $8.71 and a 200-day moving average price of $11.47. Select Water Solutions, Inc. has a 1-year low of $7.20 and a 1-year high of $15.14.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $374.38 million during the quarter, compared to analyst estimates of $360.78 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. Equities research analysts forecast that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Tuesday, May 6th. Select Water Solutions’s dividend payout ratio (DPR) is 82.35%.

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.