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

Select Water Solutions, Inc. (NYSE:WTTR) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 5,259,040 shares, a decrease of 18.9% from the February 12th total of 6,482,718 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average trading volume of 3,227,744 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 3,227,744 shares, the short-interest ratio is presently 1.6 days. Currently, 4.7% of the shares of the stock are sold short.

Select Water Solutions Price Performance

WTTR opened at $14.02 on Friday. The stock has a fifty day moving average of $12.66 and a 200-day moving average of $11.18. The firm has a market capitalization of $1.70 billion, a P/E ratio of 66.74 and a beta of 0.98. Select Water Solutions has a 12-month low of $7.20 and a 12-month high of $15.45. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, February 17th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.21). The business had revenue of $346.50 million during the quarter, compared to analyst estimates of $320.85 million. Select Water Solutions had a return on equity of 2.30% and a net margin of 1.51%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. Equities analysts forecast that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Select Water Solutions’s payout ratio is presently 133.33%.

Insider Buying and Selling at Select Water Solutions

In other news, CEO John Schmitz sold 33,916 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $13.03, for a total value of $441,925.48. Following the completion of the transaction, the chief executive officer directly owned 249,243 shares in the company, valued at $3,247,636.29. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Select Water Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Select Water Solutions by 160.2% in the third quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $28,000 after acquiring an additional 1,610 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions during the third quarter valued at $29,000. State of Alaska Department of Revenue bought a new position in Select Water Solutions during the third quarter valued at approximately $33,000. Osaic Holdings Inc. boosted its stake in Select Water Solutions by 59.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after purchasing an additional 1,830 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock valued at $60,000 after buying an additional 5,408 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

WTTR has been the subject of a number of research reports. Citigroup increased their price target on Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Thursday, February 19th. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Piper Sandler increased their target price on shares of Select Water Solutions from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $16.63.

Select Water Solutions Company Profile

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.