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

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

Select Water Solutions Trading Up 3.1%

Shares of NYSE:WTTR traded up $0.44 on Tuesday, reaching $14.60. 1,391,348 shares of the company traded hands, compared to its average volume of 2,312,157. The business’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $11.29. Select Water Solutions has a 52 week low of $7.20 and a 52 week high of $15.45. The stock has a market capitalization of $1.77 billion, a P/E ratio of 67.43 and a beta of 0.98. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Select Water Solutions (NYSE:WTTR) last released its earnings results 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). The company had revenue of $346.50 million during the quarter, compared to the consensus estimate of $320.85 million. Select Water Solutions had a net margin of 1.51% and a return on equity of 2.30%. The company’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, equities analysts anticipate that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Friday, February 6th were paid a $0.07 dividend. 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 payout ratio is presently 133.33%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup raised their price target on shares of Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Piper Sandler raised 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. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Thursday, February 19th. 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.63.

Insider Buying and Selling

In related news, CEO John Schmitz sold 33,916 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 of the company’s stock, valued at approximately $3,247,636.29. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Select Water Solutions

Large investors have recently modified their holdings of the business. Invesco Ltd. raised its position in Select Water Solutions by 17.5% during the 4th quarter. Invesco Ltd. now owns 913,844 shares of the company’s stock valued at $9,614,000 after purchasing an additional 136,324 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings 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 worth $186,000 after buying an additional 1,692 shares during the period. Virtus Investment Advisers LLC bought a new stake in shares of Select Water Solutions in the 4th quarter worth approximately $160,000. Inspire Investing LLC grew its position in shares of Select Water Solutions by 1.9% in 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 shares of Select Water Solutions during the fourth quarter valued at approximately $315,000. 81.73% of the stock is owned by institutional investors.

About Select Water Solutions

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.