Select Water Solutions, Inc. to Issue Quarterly Dividend of $0.06 (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) declared a quarterly dividend on Wednesday, April 24th, NASDAQ reports. Shareholders of record on Friday, May 3rd will be paid a dividend of 0.06 per share on Wednesday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, May 2nd.

Select Water Solutions has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Select Water Solutions to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 21.2%.

Select Water Solutions Price Performance

WTTR stock opened at $9.42 on Friday. Select Water Solutions has a 1-year low of $6.78 and a 1-year high of $9.74. The business has a fifty day moving average price of $8.91 and a 200-day moving average price of $7.95. The stock has a market capitalization of $1.11 billion, a P/E ratio of 12.90 and a beta of 1.66.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.11. Select Water Solutions had a return on equity of 8.46% and a net margin of 4.69%. The firm had revenue of $374.90 million during the quarter, compared to analysts’ expectations of $378.12 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, analysts anticipate that Select Water Solutions will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 6,422 shares of Select Water Solutions stock in a transaction on Monday, February 26th. The stock was sold at an average price of $8.60, for a total value of $55,229.20. Following the completion of the sale, the chief accounting officer now owns 95,936 shares of the company’s stock, valued at $825,049.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Select Water Solutions news, SVP Christopher Kile George sold 23,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the completion of the sale, the senior vice president now owns 255,587 shares of the company’s stock, valued at $2,205,715.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Szymanski sold 6,422 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $8.60, for a total value of $55,229.20. Following the sale, the chief accounting officer now directly owns 95,936 shares of the company’s stock, valued at approximately $825,049.60. The disclosure for this sale can be found here. Insiders sold 46,511 shares of company stock valued at $398,053 over the last 90 days. Company insiders own 8.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities began coverage on Select Water Solutions in a research note on Monday. They issued a “market perform” rating and a $11.50 price target for the company.

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.