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

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

Select Water Solutions Price Performance

WTTR traded down $0.16 during trading on Tuesday, reaching $9.49. The stock had a trading volume of 503,148 shares, compared to its average volume of 1,102,340. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 31.64 and a beta of 1.77. The company has a quick ratio of 1.62, a current ratio of 1.65 and a debt-to-equity ratio of 0.09. Select Water Solutions has a 1-year low of $8.60 and a 1-year high of $15.14. The stock has a 50 day moving average of $12.47 and a two-hundred day moving average of $12.40.

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 the consensus estimate of $333.62 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. As a group, equities analysts anticipate that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a dividend yield of 2.95%. Select Water Solutions’s dividend payout ratio is currently 93.33%.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their target price on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in shares of Select Water Solutions in the third quarter valued at $483,000. Geode Capital Management LLC raised its stake in Select Water Solutions by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,127,370 shares of the company’s stock valued at $23,683,000 after purchasing an additional 155,091 shares during the period. Foundry Partners LLC raised its stake in Select Water Solutions by 29.8% during the 3rd quarter. Foundry Partners LLC now owns 622,755 shares of the company’s stock valued at $6,931,000 after purchasing an additional 142,919 shares during the period. Barclays PLC raised its stake in Select Water Solutions by 319.3% during the 3rd quarter. Barclays PLC now owns 140,648 shares of the company’s stock valued at $1,565,000 after purchasing an additional 107,107 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Select Water Solutions during the 4th quarter valued at $342,000. Institutional investors own 81.73% of the company’s stock.

Select Water Solutions Company Profile

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.