Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Up 35.9% in February

Select Water Solutions, Inc. (NYSE:WTTR) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 6,970,000 shares, a growth of 35.9% from the February 13th total of 5,130,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 6.9 days. Currently, 6.4% of the company’s shares are sold short.

Insider Activity

In other news, CEO John Schmitz sold 26,550 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $13.16, for a total value of $349,398.00. Following the transaction, the chief executive officer now directly owns 2,898,578 shares in the company, valued at $38,145,286.48. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Select Water Solutions

A number of institutional investors have recently added to or reduced their stakes in WTTR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $2,218,000 after acquiring an additional 9,188 shares during the last quarter. ProShare Advisors LLC increased its holdings in Select Water Solutions by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 25,697 shares of the company’s stock valued at $340,000 after buying an additional 8,454 shares during the period. Millennium Management LLC bought a new position in Select Water Solutions in the fourth quarter valued at approximately $2,277,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Select Water Solutions by 3.8% in the 4th 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 last quarter. Finally, Deutsche Bank AG raised its stake in Select Water Solutions by 43.2% during the fourth quarter. Deutsche Bank AG now owns 81,336 shares of the company’s stock worth $1,077,000 after acquiring an additional 24,518 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Select Water Solutions Stock Up 2.8 %

Shares of Select Water Solutions stock traded up $0.27 on Friday, hitting $9.64. The company had a trading volume of 1,252,503 shares, compared to its average volume of 1,071,778. The firm has a market capitalization of $1.15 billion, a P/E ratio of 32.12 and a beta of 1.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.65 and a quick ratio of 1.62. Select Water Solutions has a twelve month low of $8.60 and a twelve month high of $15.14. The stock has a 50-day moving average of $12.55 and a 200-day moving average of $12.41.

Select Water Solutions (NYSE:WTTR) last released its quarterly 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). Select Water Solutions had a return on equity of 3.48% and a net margin of 2.11%. The firm had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. Research analysts predict that Select Water Solutions will post 0.91 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Tuesday, February 4th. Select Water Solutions’s dividend payout ratio (DPR) 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.