Select Water Solutions (NYSE:WTTR) Shares Gap Down - Should You Sell?

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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WTTR shares. Northland Securities raised Select Water Solutions from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $11.50 to $14.50 in a research report on Thursday, August 22nd. Northland Capmk raised shares of Select Water Solutions from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 22nd.

Select Water Solutions Stock Down 3.1 %

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.60 and a beta of 1.65. The business has a 50 day moving average of $11.09 and a 200 day moving average of $10.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63.

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

Select Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a $0.07 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Select Water Solutions's previous quarterly dividend of $0.06. Select Water Solutions's payout ratio is 41.38%.

Institutional Trading of Select Water Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Select Water Solutions by 57.3% in the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company's stock worth $32,000 after purchasing an additional 1,096 shares during the period. Innealta Capital LLC bought a new position in Select Water Solutions in the second quarter valued at approximately $34,000. CWM LLC grew its holdings in Select Water Solutions by 55.2% during the 2nd quarter. CWM LLC now owns 4,204 shares of the company's stock worth $45,000 after acquiring an additional 1,496 shares during the period. New York State Teachers Retirement System raised its position in shares of Select Water Solutions by 13.8% during the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company's stock valued at $93,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Select Water Solutions during the third quarter worth $112,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.