Select Water Solutions, Inc. (NYSE:WTTR) to Issue $0.06 Quarterly Dividend

Select Water Solutions, Inc. (NYSE:WTTR) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Investors of record on Monday, August 5th will be paid a dividend of 0.06 per share on Friday, August 16th. This represents a $0.24 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, August 5th.

Select Water Solutions has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Select Water Solutions to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 23.1%.

Select Water Solutions Stock Performance

WTTR traded up $0.29 during mid-day trading on Friday, reaching $11.52. 1,188,731 shares of the company traded hands, compared to its average volume of 1,119,281. The stock has a market capitalization of $1.37 billion, a P/E ratio of 17.72 and a beta of 1.69. Select Water Solutions has a 52-week low of $6.78 and a 52-week high of $11.55. The company has a quick ratio of 1.76, a current ratio of 1.94 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $10.60 and its 200-day moving average price is $9.27.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Select Water Solutions had a net margin of 4.28% and a return on equity of 7.46%. The firm had revenue of $366.60 million during the quarter, compared to the consensus estimate of $369.29 million. During the same period in the prior year, the company posted $0.12 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year. On average, sell-side analysts expect that Select Water Solutions will post 0.53 EPS for the current year.

Analysts Set New Price Targets

WTTR has been the topic of several recent research reports. Northland Securities assumed coverage on shares of Select Water Solutions in a research report on Monday, April 22nd. They issued a “market perform” rating and a $11.50 price target on the stock. Citigroup raised Select Water Solutions from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, May 9th.

Insider Buying and Selling at Select Water Solutions

In related news, COO Michael Skarke sold 13,421 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $9.78, for a total value of $131,257.38. Following the transaction, the chief operating officer now directly owns 380,981 shares of the company’s stock, valued at approximately $3,725,994.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.40% of the company’s stock.

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.