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

Select Water Solutions, Inc. (NYSE:WTTR) announced a quarterly dividend on Wednesday, April 24th, NASDAQ reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.06 per share on Wednesday, May 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, May 2nd.

Select Water Solutions has a payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Select Water Solutions to earn $1.13 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 21.2%.

Select Water Solutions Price Performance

Shares of NYSE:WTTR opened at $9.51 on Tuesday. Select Water Solutions has a 12 month low of $6.78 and a 12 month high of $9.74. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.03 and a beta of 1.66. The business’s 50 day simple moving average is $8.97 and its 200-day simple moving average is $7.98.

Select Water Solutions (NYSE:WTTR) last posted its earnings results on Tuesday, February 20th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.11. Select Water Solutions had a return on equity of 8.46% and a net margin of 4.69%. The firm had revenue of $374.90 million for the quarter, compared to analyst estimates of $378.12 million. During the same quarter in the prior year, the company earned $0.07 EPS. Select Water Solutions’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Select Water Solutions will post 0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities initiated coverage on Select Water Solutions in a research report on Monday, April 22nd. They set a “market perform” rating and a $11.50 price target for the company.

Insider Activity at Select Water Solutions

In other Select Water Solutions news, CAO Brian Szymanski sold 8,080 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total value of $67,306.40. Following the completion of the sale, the chief accounting officer now directly owns 84,304 shares in the company, valued at $702,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Brian Szymanski sold 8,080 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total transaction of $67,306.40. Following the completion of the sale, the chief accounting officer now owns 84,304 shares in the company, valued at approximately $702,252.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nick L. Swyka sold 9,009 shares of Select Water Solutions stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $8.55, for a total transaction of $77,026.95. Following the completion of the transaction, the chief financial officer now directly owns 272,140 shares in the company, valued at $2,326,797. The disclosure for this sale can be found here. Insiders have sold a total of 46,511 shares of company stock worth $398,053 in the last three months. 8.10% of the stock is owned by company insiders.

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.