Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Update

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 5,580,000 shares, a decrease of 19.9% from the February 28th total of 6,970,000 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is currently 4.1 days.

Analysts Set New Price Targets

Separately, Citigroup upped their price target on Select Water Solutions from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, January 10th.

Select Water Solutions Trading Down 8.6 %

Shares of WTTR traded down $0.82 on Friday, reaching $8.72. 2,186,121 shares of the company's stock were exchanged, compared to its average volume of 1,066,860. The business has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $12.33. Select Water Solutions has a 12 month low of $8.50 and a 12 month high of $15.14. The stock has a market capitalization of $1.04 billion, a P/E ratio of 29.05 and a beta of 1.51. The company has a current ratio of 1.65, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Research analysts anticipate that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 annualized dividend and a dividend yield of 3.21%. Select Water Solutions's payout ratio is currently 93.33%.

Insider Buying and Selling

In other Select Water Solutions news, CEO John Schmitz sold 26,550 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total transaction of $349,398.00. Following the transaction, the chief executive officer now owns 2,898,578 shares of the company's stock, valued at approximately $38,145,286.48. This represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Select Water Solutions

A number of hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in Select Water Solutions during the third quarter valued at approximately $259,000. The Manufacturers Life Insurance Company grew its holdings in shares of Select Water Solutions by 42.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,676 shares of the company's stock valued at $553,000 after buying an additional 14,777 shares during the period. FMR LLC increased its position in shares of Select Water Solutions by 51.9% in the 3rd quarter. FMR LLC now owns 3,728,787 shares of the company's stock valued at $41,501,000 after buying an additional 1,274,600 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Select Water Solutions during the 3rd quarter worth $133,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Select Water Solutions during the third quarter worth about $107,000. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Company Profile

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.