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

Select Water Solutions, Inc. (NYSE:WTTR) saw a large decrease in short interest during the month of 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 trading volume, of 810,400 shares, the days-to-cover ratio is currently 5.8 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Select Water Solutions

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Select Water Solutions by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock worth $32,000 after acquiring an additional 1,096 shares during the period. Innealta Capital LLC acquired a new stake in Select Water Solutions during the 2nd quarter worth about $34,000. CWM LLC boosted its position in Select Water Solutions by 55.2% during the 2nd quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after acquiring an additional 1,496 shares during the period. New York State Teachers Retirement System boosted 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 acquiring an additional 1,010 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Select Water Solutions during the 3rd quarter worth about $107,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

Shares of WTTR traded down $0.12 during trading hours on Friday, reaching $13.43. 569,673 shares of the company’s stock traded hands, compared to its average volume of 1,039,207. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.99 and a beta of 1.67. 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 twelve month low of $6.99 and a twelve month high of $14.48. The business’s fifty day simple moving average is $11.40 and its two-hundred day simple moving average is $10.88.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $371.35 million for the quarter, compared to analyst estimates of $352.98 million. Select Water Solutions had a return on equity of 6.65% and a net margin of 4.05%. Select Water Solutions’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Analysts predict that Select Water Solutions will post 0.4 earnings per share for the current year.

Select Water Solutions Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%. This is a boost from Select Water Solutions’s previous quarterly dividend of $0.06. Select Water Solutions’s dividend payout ratio (DPR) is currently 47.46%.

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.