Royal Bank of Canada Reduces Stake in Select Water Solutions, Inc. $WTTR

Royal Bank of Canada lowered its position in Select Water Solutions, Inc. (NYSE:WTTR) by 52.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,085 shares of the company’s stock after selling 100,626 shares during the period. Royal Bank of Canada owned about 0.07% of Select Water Solutions worth $1,393,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after purchasing an additional 2,356 shares during the last quarter. Millennium Management LLC increased its position in shares of Select Water Solutions by 466.8% during the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after purchasing an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Select Water Solutions by 5,584.0% in the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after purchasing an additional 6,980 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Select Water Solutions by 90.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock worth $12,726,000 after purchasing an additional 576,660 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Select Water Solutions by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,814 shares of the company’s stock worth $2,077,000 after buying an additional 30,311 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. Piper Sandler boosted their price objective on shares of Select Water Solutions from $16.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Citigroup upped their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

Select Water Solutions Price Performance

NYSE WTTR opened at $20.47 on Thursday. Select Water Solutions, Inc. has a 12 month low of $7.89 and a 12 month high of $22.55. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 73.12 and a beta of 0.99. The company’s 50 day moving average is $19.44 and its two-hundred day moving average is $16.94. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $395.81 million during the quarter, compared to analyst estimates of $373.33 million. Select Water Solutions had a net margin of 2.24% and a return on equity of 3.11%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, research analysts anticipate that Select Water Solutions, Inc. will post 0.56 earnings per share for the current year.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions’s dividend payout ratio is currently 100.00%.

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.