Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Update

Select Water Solutions, Inc. (NYSE:WTTR) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 5,740,000 shares, a decrease of 16.0% from the September 30th total of 6,830,000 shares. Based on an average daily trading volume, of 848,400 shares, the days-to-cover ratio is presently 6.8 days.

Select Water Solutions Stock Performance

Select Water Solutions stock traded down $0.29 during mid-day trading on Monday, hitting $10.85. 197,889 shares of the company’s stock traded hands, compared to its average volume of 1,026,172. The firm has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $10.61. Select Water Solutions has a fifty-two week low of $6.78 and a fifty-two week high of $12.27. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 18.76 and a beta of 1.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Select Water Solutions had a return on equity of 6.56% and a net margin of 3.91%. The business had revenue of $365.13 million during the quarter, compared to the consensus estimate of $372.25 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, research analysts expect that Select Water Solutions will post 0.47 EPS for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.07 per share. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 5th. This represents a $0.28 annualized dividend and a yield of 2.58%. Select Water Solutions’s dividend payout ratio (DPR) is presently 41.38%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in Select Water Solutions by 13.8% during 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. Stanley Laman Group Ltd. increased its position in Select Water Solutions by 3.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 340,382 shares of the company’s stock worth $3,788,000 after buying an additional 11,127 shares during the period. Vest Financial LLC increased its position in Select Water Solutions by 20.7% during the 3rd quarter. Vest Financial LLC now owns 130,741 shares of the company’s stock worth $1,455,000 after buying an additional 22,387 shares during the period. Creative Planning bought a new position in Select Water Solutions during the 3rd quarter worth $112,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Select Water Solutions by 121.3% in the third quarter. Exchange Traded Concepts LLC now owns 56,217 shares of the company’s stock worth $626,000 after purchasing an additional 30,817 shares during the period. 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.