Select Water Solutions Sees Unusually Large Options Volume (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) was the recipient of some unusual options trading on Tuesday. Stock traders bought 10,307 call options on the stock. This represents an increase of approximately 8,280% compared to the average volume of 123 call options.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in Select Water Solutions during the second quarter worth $54,000. Nykredit A S bought a new stake in Select Water Solutions in the second quarter worth approximately $62,000. Jefferies Financial Group Inc. bought a new stake in Select Water Solutions in the fourth quarter worth approximately $144,000. OMERS ADMINISTRATION Corp acquired a new position in Select Water Solutions in the first quarter valued at approximately $164,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Select Water Solutions by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after buying an additional 1,336 shares in the last quarter. Institutional investors own 81.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WTTR. Zacks Research downgraded Select Water Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Raymond James Financial cut shares of Select Water Solutions from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Monday, July 6th. JPMorgan Chase & Co. began coverage on shares of Select Water Solutions in a research note on Friday, August 21st. They issued an “overweight” rating and a $24.00 target price for the company. Finally, TD Cowen cut Select Water Solutions to a “neutral” rating in a report on Friday, August 21st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Select Water Solutions has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Select Water Solutions Stock Performance

NYSE WTTR traded down $0.87 during trading on Tuesday, reaching $19.31. The company’s stock had a trading volume of 2,176,306 shares, compared to its average volume of 1,694,335. The firm has a 50 day moving average price of $20.02 and a 200 day moving average price of $18.28. Select Water Solutions has a 12 month low of $9.28 and a 12 month high of $22.55. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 68.97 and a beta of 1.01. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17.

Select Water Solutions (NYSE:WTTR) last released its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The company had revenue of $395.81 million for the quarter, compared to analyst estimates of $373.33 million. During the same period in the prior year, the firm posted $0.10 EPS. Select Water Solutions’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Select Water Solutions will post 0.61 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.4%. Select Water Solutions’s dividend payout ratio is presently 100.00%.

About Select Water Solutions

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and gas industry. Its services include water sourcing, transfer, recycling, treatment, storage, and disposal, supporting hydraulic fracturing, drilling, completions, and production operations. The company also provides water infrastructure services and oilfield chemical products and solutions.

The company operates through its Water Services, Water Infrastructure, and Chemical Technologies businesses.