Select Water Solutions, Inc. (NYSE:WTTR) Sees Significant Increase in Short Interest

Select Water Solutions, Inc. (NYSE:WTTR) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 6,970,000 shares, a growth of 35.9% from the February 13th total of 5,130,000 shares. Currently, 6.4% of the shares of the company are sold short. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 6.9 days.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction on Friday, February 14th. The stock was sold at an average price of $13.03, for a total transaction of $957,053.50. Following the transaction, the chief executive officer now directly owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in WTTR. Principal Financial Group Inc. bought a new stake in shares of Select Water Solutions in the 3rd quarter worth about $483,000. Geode Capital Management LLC grew its stake in Select Water Solutions by 7.9% during the third quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock worth $23,683,000 after buying an additional 155,091 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of Select Water Solutions by 29.8% during the third quarter. Foundry Partners LLC now owns 622,755 shares of the company’s stock worth $6,931,000 after buying an additional 142,919 shares in the last quarter. Barclays PLC raised its stake in shares of Select Water Solutions by 319.3% in the third quarter. Barclays PLC now owns 140,648 shares of the company’s stock valued at $1,565,000 after acquiring an additional 107,107 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Select Water Solutions in the 4th quarter worth approximately $342,000. 81.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their target price on shares of Select Water Solutions from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, January 10th.

Select Water Solutions Stock Performance

WTTR traded down $0.02 during midday trading on Monday, reaching $9.63. The company’s stock had a trading volume of 3,287,719 shares, compared to its average volume of 956,278. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $12.47 and a 200 day simple moving average of $12.40. The stock has a market cap of $1.15 billion, a P/E ratio of 32.11 and a beta of 1.77. Select Water Solutions has a twelve month low of $8.60 and a twelve month high of $15.14.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.14). The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. Research analysts expect that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s payout ratio is 93.33%.

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.