Short Interest in Select Water Solutions, Inc. (NYSE:WTTR) Decreases By 16.0%

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 5,740,000 shares, a decline of 16.0% from the September 30th total of 6,830,000 shares. Based on an average daily volume of 848,400 shares, the days-to-cover ratio is currently 6.8 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on WTTR shares. Northland Capmk raised Select Water Solutions from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 22nd. Northland Securities upgraded shares of Select Water Solutions from a "market perform" rating to an "outperform" rating and increased their price target for the company from $11.50 to $14.50 in a research note on Thursday, August 22nd.

Select Water Solutions Stock Performance

NYSE WTTR traded down $0.35 during trading on Monday, reaching $10.79. 627,688 shares of the company's stock were exchanged, compared to its average volume of 1,028,240. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.81 and a quick ratio of 1.63. The business has a 50 day moving average price of $11.09 and a 200-day moving average price of $10.62. The stock has a market capitalization of $1.28 billion, a P/E ratio of 18.60 and a beta of 1.65. Select Water Solutions has a fifty-two week low of $6.78 and a fifty-two week high of $12.27.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Select Water Solutions had a return on equity of 6.56% and a net margin of 3.91%. The business had revenue of $365.13 million for the quarter, compared to analyst estimates of $372.25 million. During the same period in the previous year, the firm earned $0.20 EPS. The firm's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts forecast that Select Water Solutions will post 0.47 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Select Water Solutions's previous quarterly dividend of $0.06. Select Water Solutions's payout ratio is presently 41.38%.

Institutional Trading of Select Water Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of Select Water Solutions by 1,328.1% in the second quarter. Victory Capital Management Inc. now owns 3,770,505 shares of the company's stock valued at $40,344,000 after buying an additional 3,506,479 shares in the last quarter. American Century Companies Inc. raised its holdings in Select Water Solutions by 87.3% in the 2nd quarter. American Century Companies Inc. now owns 1,910,065 shares of the company's stock valued at $20,438,000 after acquiring an additional 890,470 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Select Water Solutions during the 2nd quarter valued at $5,134,000. Harbor Capital Advisors Inc. grew its holdings in shares of Select Water Solutions by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 451,845 shares of the company's stock worth $4,835,000 after purchasing an additional 330,838 shares in the last quarter. Finally, Webs Creek Capital Management LP raised its stake in Select Water Solutions by 16.1% in the first quarter. Webs Creek Capital Management LP now owns 2,208,733 shares of the company's stock valued at $20,387,000 after purchasing an additional 306,547 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company's stock.

About Select Water Solutions

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.