Ranger Investment Management L.P. Purchases 78,765 Shares of Select Water Solutions, Inc. $WTTR

Ranger Investment Management L.P. raised its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 21.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 454,290 shares of the company’s stock after purchasing an additional 78,765 shares during the period. Ranger Investment Management L.P.’s holdings in Select Water Solutions were worth $4,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in WTTR. Cullen Capital Management LLC increased its stake in Select Water Solutions by 7.3% in the third quarter. Cullen Capital Management LLC now owns 54,156 shares of the company’s stock valued at $579,000 after acquiring an additional 3,663 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Select Water Solutions by 17.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,784 shares of the company’s stock valued at $468,000 after purchasing an additional 6,549 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Select Water Solutions by 61.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 78,721 shares of the company’s stock worth $842,000 after buying an additional 30,084 shares in the last quarter. State of Wyoming boosted its stake in Select Water Solutions by 410.6% in the 3rd quarter. State of Wyoming now owns 10,610 shares of the company’s stock valued at $113,000 after buying an additional 8,532 shares in the last quarter. Finally, Gitterman Wealth Management LLC grew its position in Select Water Solutions by 176.6% in the third quarter. Gitterman Wealth Management LLC now owns 43,374 shares of the company’s stock valued at $464,000 after acquiring an additional 27,692 shares during the period. 81.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Northland Securities lowered shares of Select Water Solutions from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research report on Thursday, November 13th. Piper Sandler set a $14.00 target price on shares of Select Water Solutions in a research note on Thursday, December 18th. Wall Street Zen upgraded Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $16.00 target price on shares of Select Water Solutions in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Select Water Solutions has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Buying and Selling

In other news, CEO John Schmitz sold 70,375 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $11.21, for a total value of $788,903.75. Following the completion of the transaction, the chief executive officer owned 31,372 shares in the company, valued at $351,680.12. This trade represents a 69.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 443,187 shares of company stock worth $4,927,971. Insiders own 8.40% of the company’s stock.

Select Water Solutions Stock Up 2.2%

Select Water Solutions stock opened at $12.36 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 64.78 and a beta of 1.03. The company’s 50 day simple moving average is $11.25 and its 200 day simple moving average is $10.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 1.48. Select Water Solutions, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $13.50.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Select Water Solutions had a return on equity of 2.26% and a net margin of 1.41%.The firm had revenue of $322.24 million during the quarter, compared to analysts’ expectations of $306.39 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Select Water Solutions, Inc. will post 0.91 EPS for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Friday, February 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, February 6th. Select Water Solutions’s payout ratio is presently 147.37%.

Select Water Solutions Company 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.