Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Down 19.9% in March

Select Water Solutions, Inc. (NYSE:WTTR) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 5,580,000 shares, a drop of 19.9% from the February 28th total of 6,970,000 shares. Approximately 5.1% of the company’s stock are short sold. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is currently 4.1 days.

Analysts Set New Price Targets

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

Select Water Solutions Price Performance

Shares of Select Water Solutions stock opened at $10.40 on Monday. The stock has a market cap of $1.24 billion, a P/E ratio of 34.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The stock’s fifty day moving average is $11.84 and its 200 day moving average is $12.37. Select Water Solutions has a one year low of $8.60 and a one year high of $15.14.

Select Water Solutions (NYSE:WTTR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $333.62 million. Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. Sell-side analysts anticipate that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.28 dividend on an annualized basis and a yield of 2.69%. Select Water Solutions’s payout ratio is presently 93.33%.

Insider Activity

In other Select Water Solutions news, CEO John Schmitz sold 26,550 shares of Select Water Solutions stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $13.16, for a total value of $349,398.00. Following the completion of the sale, the chief executive officer now owns 2,898,578 shares of the company’s stock, valued at approximately $38,145,286.48. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in Select Water Solutions in the 4th quarter worth approximately $154,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Select Water Solutions by 5.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,503 shares of the company’s stock valued at $2,218,000 after buying an additional 9,188 shares in the last quarter. ProShare Advisors LLC lifted its stake in Select Water Solutions by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 25,697 shares of the company’s stock worth $340,000 after purchasing an additional 8,454 shares during the last quarter. Millennium Management LLC purchased a new position in Select Water Solutions during the 4th quarter valued at $2,277,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Select Water Solutions by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,865 shares of the company’s stock valued at $687,000 after purchasing an additional 1,891 shares during the period. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

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.