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

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO John Schmitz sold 73,450 shares of Select Water Solutions stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $13.03, for a total transaction of $957,053.50. Following the transaction, the chief executive officer now owns 2,825,128 shares of the company's stock, valued at $36,811,417.84. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.40% of the company's stock.

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Institutional Investors Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Select Water Solutions by 51.9% during the third quarter. FMR LLC now owns 3,728,787 shares of the company's stock worth $41,501,000 after purchasing an additional 1,274,600 shares during the period. First Trust Advisors LP lifted its position in shares of Select Water Solutions by 21.9% in the fourth quarter. First Trust Advisors LP now owns 6,828,596 shares of the company's stock valued at $90,411,000 after buying an additional 1,226,061 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Select Water Solutions during the 4th quarter worth approximately $7,274,000. Penn Capital Management Company LLC acquired a new position in shares of Select Water Solutions during the 4th quarter worth approximately $5,751,000. Finally, Van ECK Associates Corp raised its stake in Select Water Solutions by 27.4% in the 4th quarter. Van ECK Associates Corp now owns 1,998,193 shares of the company's stock valued at $26,456,000 after acquiring an additional 430,363 shares during the period. 81.73% of the stock is owned by institutional investors.

Select Water Solutions Stock Up 2.3 %

WTTR stock traded up $0.24 during mid-day trading on Wednesday, hitting $10.83. 1,073,520 shares of the company were exchanged, compared to its average volume of 1,055,282. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. Select Water Solutions has a 1-year low of $8.60 and a 1-year high of $15.14. The firm's 50 day simple moving average is $11.70 and its 200 day simple moving average is $12.37. The firm has a market cap of $1.29 billion, a P/E ratio of 36.10 and a beta of 1.77.

Select Water Solutions (NYSE:WTTR - Get Free Report) last announced its 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). The company had revenue of $349.05 million during the quarter, compared to analyst estimates of $333.62 million. Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. On average, sell-side analysts predict that Select Water Solutions will post 0.91 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, February 4th. Select Water Solutions's payout ratio is 93.33%.

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.