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

Select Water Solutions, Inc. (NYSE:WTTR) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 5,580,000 shares, a drop of 19.9% from the February 28th total of 6,970,000 shares. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 5.1% of the company’s stock are short sold.

Insider Activity at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the firm’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 value of $957,053.50. Following the transaction, the chief executive officer now owns 2,825,128 shares in the company, valued at $36,811,417.84. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in Select Water Solutions in the third quarter worth about $259,000. The Manufacturers Life Insurance Company raised its holdings in shares of Select Water Solutions by 42.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,676 shares of the company’s stock worth $553,000 after purchasing an additional 14,777 shares during the period. FMR LLC lifted its stake in Select Water Solutions by 51.9% in the third quarter. FMR LLC now owns 3,728,787 shares of the company’s stock valued at $41,501,000 after purchasing an additional 1,274,600 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Select Water Solutions in the third quarter valued at approximately $133,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Select Water Solutions during the third quarter valued at $107,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

Select Water Solutions Stock Up 0.5 %

NYSE:WTTR traded up $0.06 on Tuesday, hitting $10.56. The stock had a trading volume of 894,149 shares, compared to its average volume of 1,053,385. Select Water Solutions has a 1 year low of $8.60 and a 1 year high of $15.14. The firm’s fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $12.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The stock has a market cap of $1.26 billion, a P/E ratio of 35.18 and a beta of 1.77.

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

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s payout ratio is 93.33%.

Analyst Ratings Changes

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

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.