JPMorgan Chase & Co. Acquires 329,353 Shares of Select Water Solutions, Inc. (NYSE:WTTR)

JPMorgan Chase & Co. grew its holdings in Select Water Solutions, Inc. (NYSE:WTTR) by 32.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,345,964 shares of the company’s stock after purchasing an additional 329,353 shares during the period. JPMorgan Chase & Co.’s holdings in Select Water Solutions were worth $14,981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System grew its position in Select Water Solutions by 13.8% in the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after purchasing an additional 1,010 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Select Water Solutions by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 61,105 shares of the company’s stock worth $680,000 after buying an additional 1,073 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Select Water Solutions by 37.9% in the third quarter. GAMMA Investing LLC now owns 4,149 shares of the company’s stock worth $46,000 after acquiring an additional 1,141 shares during the period. Profund Advisors LLC increased its position in Select Water Solutions by 17.7% during the second quarter. Profund Advisors LLC now owns 22,220 shares of the company’s stock valued at $238,000 after acquiring an additional 3,343 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in Select Water Solutions by 10.2% in the third quarter. Inspire Investing LLC now owns 41,931 shares of the company’s stock valued at $467,000 after acquiring an additional 3,883 shares during the period. Institutional investors own 81.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup boosted their price target on Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Friday.

Select Water Solutions Stock Performance

Shares of WTTR opened at $13.57 on Friday. The business has a 50-day simple moving average of $13.63 and a two-hundred day simple moving average of $11.91. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Select Water Solutions, Inc. has a 52 week low of $6.99 and a 52 week high of $15.14. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 23.00 and a beta of 1.76.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The company had revenue of $371.35 million during the quarter, compared to analyst estimates of $352.98 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts expect that Select Water Solutions, Inc. will post 0.4 EPS for the current year.

Select Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.06%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 5th. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

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.