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

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

Select Water Solutions Stock Performance

WTTR stock opened at $14.02 on Friday. Select Water Solutions has a twelve month low of $7.20 and a twelve month high of $15.45. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.70 billion, a P/E ratio of 66.74 and a beta of 0.98. The business’s fifty day moving average is $12.66 and its 200-day moving average is $11.18.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.20) EPS 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 for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. Equities research analysts forecast that Select Water Solutions will post 0.91 EPS for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Friday, February 6th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Select Water Solutions’s payout ratio is 133.33%.

Analyst Ratings Changes

WTTR has been the subject of a number of analyst reports. Citigroup lifted their price objective on Select Water Solutions from $15.00 to $16.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen raised shares of Select Water Solutions from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Piper Sandler boosted their price target 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 reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research note on Friday, January 9th. Finally, Northland Securities raised Select Water Solutions from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Select Water Solutions has a consensus rating of “Buy” and a consensus price target of $16.63.

Insider Activity

In related 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Trading of Select Water Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in Select Water Solutions by 10.1% in the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after acquiring an additional 48,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Select Water Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock worth $569,000 after purchasing an additional 2,356 shares during the period. Millennium Management LLC raised its position in shares of Select Water Solutions by 466.8% during the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock worth $10,236,000 after purchasing an additional 802,833 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Select Water Solutions by 90.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after purchasing an additional 576,660 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.