Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Down 18.3% in October

Select Water Solutions, Inc. (NYSE:WTTR) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,690,000 shares, a decline of 18.3% from the October 15th total of 5,740,000 shares. Based on an average trading volume of 810,400 shares, the short-interest ratio is currently 5.8 days.

Select Water Solutions Stock Performance

WTTR stock traded down $0.12 during trading hours on Friday, hitting $13.43. 570,254 shares of the stock were exchanged, compared to its average volume of 1,068,494. Select Water Solutions has a 12 month low of $6.99 and a 12 month high of $14.48. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.60 billion, a P/E ratio of 22.76 and a beta of 1.67. The company has a 50-day simple moving average of $11.45 and a two-hundred day simple moving average of $10.92.

Select Water Solutions (NYSE:WTTR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $371.35 million during the quarter, compared to the consensus estimate of $352.98 million. Select Water Solutions had a net margin of 4.05% and a return on equity of 6.65%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, analysts forecast that Select Water Solutions will post 0.4 earnings per share for the current fiscal year.

Select Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.07 per share. This is a positive change from Select Water Solutions’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, November 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.08%. Select Water Solutions’s dividend payout ratio (DPR) is currently 47.46%.

Institutional Investors Weigh In On Select Water Solutions

A number of large investors have recently modified their holdings of WTTR. Caxton Associates LP bought a new position in Select Water Solutions in the 1st quarter valued at approximately $495,000. Vanguard Group Inc. increased its holdings in shares of Select Water Solutions by 3.5% during the first quarter. Vanguard Group Inc. now owns 5,619,256 shares of the company’s stock worth $51,866,000 after buying an additional 188,347 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Select Water Solutions during the 2nd quarter valued at $635,000. Harbor Capital Advisors Inc. grew its position in Select Water Solutions by 148.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,121,146 shares of the company’s stock worth $12,478,000 after acquiring an additional 669,301 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in Select Water Solutions by 277.6% during the 1st quarter. Quadrature Capital Ltd now owns 77,557 shares of the company’s stock worth $716,000 after acquiring an additional 57,017 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WTTR. Northland Securities raised shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $11.50 to $14.50 in a research note on Thursday, August 22nd. Northland Capmk upgraded Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

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.