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

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

Hedge Funds Weigh In On Select Water Solutions

Several large investors have recently modified their holdings of WTTR. GAMMA Investing LLC grew its position in shares of Select Water Solutions by 57.3% in the second quarter. GAMMA Investing LLC now owns 3,008 shares of the company’s stock valued at $32,000 after purchasing an additional 1,096 shares in the last quarter. Innealta Capital LLC purchased a new position in Select Water Solutions during the second quarter valued at approximately $34,000. CWM LLC increased its holdings in Select Water Solutions by 55.2% during the 2nd quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $45,000 after acquiring an additional 1,496 shares during the period. New York State Teachers Retirement System lifted its stake in Select Water Solutions by 13.8% in the 3rd quarter. New York State Teachers Retirement System now owns 8,327 shares of the company’s stock worth $93,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in Select Water Solutions in the 3rd quarter valued at $107,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Select Water Solutions Stock Performance

WTTR traded down $0.12 during trading on Friday, hitting $13.43. 570,254 shares of the company traded hands, compared to its average volume of 1,068,494. The firm has a market cap of $1.60 billion, a P/E ratio of 22.76 and a beta of 1.67. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Select Water Solutions has a one year low of $6.99 and a one year high of $14.48. The stock’s fifty day moving average is $11.45 and its 200 day moving average is $10.92.

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

Select Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, November 5th. This is an increase from Select Water Solutions’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.08%. Select Water Solutions’s dividend payout ratio is 47.46%.

Analyst Upgrades and Downgrades

WTTR has been the topic of several recent analyst reports. Northland Securities upgraded shares of Select Water Solutions from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $14.50 in a report on Thursday, August 22nd. Northland Capmk upgraded shares of Select Water Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

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.