Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Down 18.3% in October

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

Select Water Solutions Stock Down 0.9 %

Shares of WTTR traded down $0.12 during mid-day trading on Friday, hitting $13.43. 570,254 shares of the company’s stock were exchanged, compared to its average volume of 1,068,494. The company has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $10.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.62. The company has a market cap of $1.60 billion, a PE ratio of 22.76 and a beta of 1.67. Select Water Solutions has a 52 week low of $6.99 and a 52 week high of $14.48.

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

Select Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%. 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 currently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in WTTR. GAMMA Investing LLC increased its holdings in Select Water Solutions by 57.3% during the second 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 last quarter. Innealta Capital LLC bought a new stake in shares of Select Water Solutions in the 2nd quarter valued at about $34,000. CWM LLC lifted its stake in Select Water Solutions by 55.2% in the 2nd 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 last quarter. New York State Teachers Retirement System grew its holdings in Select Water Solutions by 13.8% during the third 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. Finally, Northwest & Ethical Investments L.P. acquired a new position in Select Water Solutions during the third quarter worth approximately $107,000. Institutional investors own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northland Capmk raised shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.50 to $14.50 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.