Short Interest in Select Water Solutions, Inc. (NYSE:WTTR) Drops By 18.9%

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

Insider Buying and Selling

In other Select Water Solutions news, CEO John Schmitz sold 33,916 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.03, for a total transaction of $441,925.48. Following the completion of the transaction, the chief executive officer owned 249,243 shares in the company, valued at $3,247,636.29. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Select Water Solutions by 17.5% in the fourth quarter. Invesco Ltd. now owns 913,844 shares of the company’s stock valued at $9,614,000 after acquiring an additional 136,324 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Select Water Solutions by 10.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,699 shares of the company’s stock valued at $186,000 after acquiring an additional 1,692 shares during the period. Virtus Investment Advisers LLC acquired a new position in shares of Select Water Solutions in the fourth quarter valued at approximately $160,000. Inspire Investing LLC raised its position in Select Water Solutions by 1.9% during the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock worth $581,000 after buying an additional 1,023 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Select Water Solutions during the fourth quarter worth about $315,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WTTR shares. Wall Street Zen upgraded shares of Select Water Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Piper Sandler upped 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 report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research report on Friday, January 9th. Northland Securities upgraded Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research report on Thursday, February 19th. Finally, Citigroup lifted their target price on Select Water Solutions from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Select Water Solutions presently has an average rating of “Buy” and an average target price of $16.63.

Select Water Solutions Trading Up 3.1%

WTTR traded up $0.44 on Tuesday, hitting $14.60. The company had a trading volume of 1,391,348 shares, compared to its average volume of 2,312,157. The company’s fifty day moving average price is $12.78 and its 200 day moving average price is $11.29. Select Water Solutions has a 1 year low of $7.20 and a 1 year high of $15.45. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.77 billion, a P/E ratio of 69.50 and a beta of 0.98.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The firm had revenue of $346.50 million during the quarter, compared to analyst estimates of $320.85 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, February 6th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

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.