Select Water Solutions (NYSE:WTTR) Shares Gap Down - Here's Why

Shares of Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $11.14, but opened at $10.73. Select Water Solutions shares last traded at $10.85, with a volume of 36,480 shares trading hands.

Wall Street Analyst Weigh In

WTTR has been the topic of several research analyst reports. Northland Securities raised Select Water Solutions from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd. Northland Capmk raised Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 22nd.

Read Our Latest Stock Report on WTTR

Select Water Solutions Price Performance

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 19.21 and a beta of 1.65. The company's fifty day moving average is $11.09 and its 200 day moving average is $10.61. The company has a quick ratio of 1.63, a current ratio of 1.81 and a debt-to-equity ratio of 0.10.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Select Water Solutions had a net margin of 3.91% and a return on equity of 6.56%. The company had revenue of $365.13 million during the quarter, compared to the consensus estimate of $372.25 million. During the same period in the prior year, the business posted $0.20 EPS. The company's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Select Water Solutions, Inc. will post 0.47 EPS for the current year.

Select Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, November 5th. This is an increase from Select Water Solutions's previous quarterly dividend of $0.06. Select Water Solutions's dividend payout ratio is presently 41.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WTTR. Caxton Associates LP acquired a new position in Select Water Solutions during the first quarter worth approximately $495,000. Vanguard Group Inc. boosted its position in Select Water Solutions by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company's stock worth $51,866,000 after purchasing an additional 188,347 shares during the period. Empowered Funds LLC increased its holdings in shares of Select Water Solutions by 129.6% in the first quarter. Empowered Funds LLC now owns 471,545 shares of the company's stock valued at $4,352,000 after purchasing an additional 266,145 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Select Water Solutions in the second quarter valued at about $635,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of Select Water Solutions by 277.6% during the 1st quarter. Quadrature Capital Ltd now owns 77,557 shares of the company's stock worth $716,000 after buying an additional 57,017 shares during the period. Institutional investors own 81.73% of the company's stock.

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.

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