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

Select Water Solutions, Inc. (NYSE:WTTR) was the target of a significant drop in short interest in 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 trading 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 sold short.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the transaction, the chief executive officer now owns 2,825,128 shares of the company’s stock, valued at approximately $36,811,417.84. This trade represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in Select Water Solutions by 21.9% in the fourth quarter. First Trust Advisors LP now owns 6,828,596 shares of the company’s stock worth $90,411,000 after buying an additional 1,226,061 shares during the period. FMR LLC increased its holdings in shares of Select Water Solutions by 51.9% in the 3rd quarter. FMR LLC now owns 3,728,787 shares of the company’s stock worth $41,501,000 after acquiring an additional 1,274,600 shares during the period. American Century Companies Inc. boosted its stake in Select Water Solutions by 12.6% during the 4th quarter. American Century Companies Inc. now owns 3,174,675 shares of the company’s stock valued at $42,033,000 after purchasing an additional 355,271 shares during the period. Webs Creek Capital Management LP grew its position in Select Water Solutions by 5.4% in the 4th quarter. Webs Creek Capital Management LP now owns 2,354,742 shares of the company’s stock worth $31,177,000 after purchasing an additional 120,966 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Select Water Solutions by 7.9% in the third 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. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

WTTR stock traded up $0.24 during trading on Wednesday, hitting $10.83. 1,073,520 shares of the company’s stock traded hands, compared to its average volume of 1,055,282. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 36.10 and a beta of 1.77. Select Water Solutions has a 52 week low of $8.60 and a 52 week high of $15.14. The stock has a fifty day moving average price of $11.70 and a two-hundred day moving average price of $12.37. 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 (NYSE:WTTR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The business had revenue of $349.05 million for the quarter, compared to the consensus estimate of $333.62 million. 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. Investors of record on Tuesday, February 4th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio (DPR) is 93.33%.

Analyst Ratings Changes

Separately, Citigroup upped 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.

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.