Select Water Solutions, Inc. (NYSE:WTTR) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP decreased its holdings in shares of Select Water Solutions, Inc. (NYSE:WTTR) by 48.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 76,466 shares of the company’s stock after selling 70,981 shares during the quarter. Dark Forest Capital Management LP’s holdings in Select Water Solutions were worth $818,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its stake in Select Water Solutions by 19.0% during the 2nd quarter. AQR Capital Management LLC now owns 570,161 shares of the company’s stock valued at $6,101,000 after acquiring an additional 90,925 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Select Water Solutions in the second quarter valued at approximately $298,000. Profund Advisors LLC raised its stake in shares of Select Water Solutions by 17.7% during the second quarter. Profund Advisors LLC now owns 22,220 shares of the company’s stock worth $238,000 after purchasing an additional 3,343 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Select Water Solutions by 5.9% during the second quarter. Renaissance Technologies LLC now owns 594,376 shares of the company’s stock worth $6,360,000 after purchasing an additional 33,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Select Water Solutions by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,569,379 shares of the company’s stock worth $70,291,000 after purchasing an additional 214,915 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

Shares of WTTR stock opened at $10.57 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $11.09 and a 200-day simple moving average of $10.29. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 16.26 and a beta of 1.66. Select Water Solutions, Inc. has a 12-month low of $6.78 and a 12-month high of $12.27.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Select Water Solutions had a return on equity of 6.56% and a net margin of 3.91%. The firm had revenue of $365.13 million for the quarter, compared to analyst estimates of $372.25 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Select Water Solutions’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts forecast that Select Water Solutions, Inc. will post 0.48 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, August 5th. Select Water Solutions’s dividend payout ratio (DPR) is 36.92%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WTTR. Northland Capmk raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $11.50 to $14.50 in a report on Thursday, August 22nd.

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.