Aigen Investment Management LP Takes Position in Select Water Solutions, Inc. (NYSE:WTTR)

Aigen Investment Management LP purchased a new stake in shares of Select Water Solutions, Inc. (NYSE:WTTR) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,787 shares of the company’s stock, valued at approximately $155,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTTR. Wells Fargo & Company MN lifted its holdings in Select Water Solutions by 284.9% in the fourth quarter. Wells Fargo & Company MN now owns 234,356 shares of the company’s stock valued at $3,103,000 after acquiring an additional 173,475 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Select Water Solutions by 31.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,950 shares of the company’s stock valued at $410,000 after acquiring an additional 7,367 shares during the period. Invesco Ltd. lifted its holdings in Select Water Solutions by 9.8% in the fourth quarter. Invesco Ltd. now owns 920,089 shares of the company’s stock valued at $12,182,000 after acquiring an additional 82,053 shares during the period. Renaissance Technologies LLC lifted its holdings in Select Water Solutions by 2.9% in the fourth quarter. Renaissance Technologies LLC now owns 607,976 shares of the company’s stock valued at $8,050,000 after acquiring an additional 17,000 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Select Water Solutions in the fourth quarter valued at about $2,542,000. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Down 3.7%

NYSE WTTR opened at $7.91 on Friday. The stock’s 50-day moving average price is $9.10 and its 200-day moving average price is $9.62. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Select Water Solutions, Inc. has a 52 week low of $7.20 and a 52 week high of $15.14. The company has a market capitalization of $950.86 million, a P/E ratio of 25.52 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%. The company had revenue of $364.22 million during the quarter, compared to the consensus estimate of $362.93 million. During the same period last year, the business earned $0.13 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 3.5%. Select Water Solutions’s dividend payout ratio (DPR) is currently 90.32%.

Analyst Ratings Changes

WTTR has been the topic of a number of recent research reports. Citigroup lowered their target price on Select Water Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Piper Sandler started coverage on Select Water Solutions in a report on Tuesday, July 15th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Raymond James Financial decreased their price objective on Select Water Solutions from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 9th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Select Water Solutions has an average rating of “Buy” and a consensus price target of $14.88.

Select Water Solutions Company 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.