Select Water Solutions, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) announced a quarterly dividend on Friday, October 24th. Shareholders of record on Friday, November 7th will be paid a dividend of 0.07 per share on Monday, November 17th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 7th.

Select Water Solutions has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Select Water Solutions to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 24.6%.

Select Water Solutions Price Performance

Shares of Select Water Solutions stock traded down $0.18 during trading on Wednesday, reaching $11.50. 86,847 shares of the stock traded hands, compared to its average volume of 1,223,375. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 37.03 and a beta of 1.18. Select Water Solutions has a 52-week low of $7.20 and a 52-week high of $15.14. The business has a fifty day simple moving average of $10.22 and a two-hundred day simple moving average of $9.28.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The business had revenue of $322.24 million for the quarter, compared to the consensus estimate of $306.39 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s revenue was down 13.2% compared to the same quarter last year. Sell-side analysts expect that Select Water Solutions will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Select Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its holdings in Select Water Solutions by 160.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after purchasing an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Select Water Solutions in the third quarter worth about $29,000. State of Alaska Department of Revenue bought a new position in Select Water Solutions during the 3rd quarter worth about $33,000. Osaic Holdings Inc. increased its position in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares during the period. Finally, State of Wyoming lifted its position in shares of Select Water Solutions by 34.1% in the 1st quarter. State of Wyoming now owns 5,932 shares of the company’s stock worth $62,000 after purchasing an additional 1,509 shares during the period. 81.73% of the stock is currently owned by institutional investors.

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.