Select Water Solutions, Inc. (NYSE:WTTR) Sees Large Decrease in Short Interest

Select Water Solutions, Inc. (NYSE:WTTR) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,690,000 shares, a decline of 18.3% from the October 15th total of 5,740,000 shares. Based on an average daily trading volume, of 810,400 shares, the days-to-cover ratio is currently 5.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System increased 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 buying an additional 1,010 shares during the period. GAMMA Investing LLC increased its position in Select Water Solutions by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after buying an additional 1,096 shares during the period. ProShare Advisors LLC increased its position in Select Water Solutions by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 14,356 shares of the company’s stock worth $133,000 after buying an additional 1,131 shares during the period. CWM LLC increased its position in shares of Select Water Solutions by 55.2% during the second quarter. CWM LLC now owns 4,204 shares of the company’s stock valued at $45,000 after purchasing an additional 1,496 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Select Water Solutions by 15.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,993 shares of the company’s stock valued at $213,000 after purchasing an additional 3,142 shares during the period. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Performance

Shares of WTTR stock traded down $0.12 during trading on Friday, reaching $13.43. The company had a trading volume of 569,673 shares, compared to its average volume of 1,039,207. The firm’s 50 day simple moving average is $11.40 and its two-hundred day simple moving average is $10.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. Select Water Solutions has a one year low of $6.99 and a one year high of $14.48. The company has a market capitalization of $1.60 billion, a PE ratio of 22.99 and a beta of 1.67.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. The business had revenue of $371.35 million for the quarter, compared to the consensus estimate of $352.98 million. During the same period last year, the business earned $0.14 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts forecast that Select Water Solutions will post 0.4 earnings per share for the current year.

Select Water Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 5th. Select Water Solutions’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

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