Select Water Solutions Sees Unusually Large Options Volume (NYSE:WTTR)

Key Points

• Options activity surged: Traders bought 10,307 WTTR call options, roughly 8,280% above the average volume of 123 calls.
• Institutional ownership remains high: Hedge funds and other institutions increased positions, collectively owning 81.73% of Select Water Solutions’ shares.
• Fundamentals and analyst sentiment were mixed: The company beat quarterly EPS and revenue estimates, while analysts maintained a “Moderate Buy” consensus with a $23 average price target; shares recently traded at $19.31.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) saw unusually large options trading activity on Tuesday. Traders purchased 10,307 call options on the stock. This represents an increase of approximately 8,280% compared to the average volume of 123 call options.

Institutional Investors Weigh In On Select Water Solutions

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Select Water Solutions by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,550,309 shares of the company's stock worth $100,220,000 after buying an additional 185,821 shares during the period. Encompass Capital Advisors LLC increased its position in shares of Select Water Solutions by 31.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company's stock worth $32,810,000 after acquiring an additional 746,534 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of Select Water Solutions by 1.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,528,895 shares of the company's stock worth $23,392,000 after acquiring an additional 27,704 shares during the period. Meros Investment Management LP raised its holdings in shares of Select Water Solutions by 4.4% during the fourth quarter. Meros Investment Management LP now owns 939,857 shares of the company's stock worth $9,887,000 after acquiring an additional 39,471 shares during the period. Finally, Empowered Funds LLC lifted its position in Select Water Solutions by 6.2% in the 1st quarter. Empowered Funds LLC now owns 574,438 shares of the company's stock valued at $8,789,000 after acquiring an additional 33,614 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Select Water Solutions Price Performance

Shares of NYSE WTTR traded down $0.87 during mid-day trading on Tuesday, hitting $19.31. 2,176,306 shares of the stock were exchanged, compared to its average volume of 1,694,335. Select Water Solutions has a twelve month low of $9.28 and a twelve month high of $22.55. The stock's fifty day simple moving average is $20.02 and its two-hundred day simple moving average is $18.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.40 and a current ratio of 1.58. The company has a market cap of $2.67 billion, a P/E ratio of 68.97 and a beta of 1.01.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Select Water Solutions had a return on equity of 3.11% and a net margin of 2.24%.The business had revenue of $395.81 million during the quarter, compared to analysts' expectations of $373.33 million. During the same period in the previous year, the business posted $0.10 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Select Water Solutions will post 0.61 EPS for the current fiscal year.

Select Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Select Water Solutions's dividend payout ratio is 100.00%.

Analyst Ratings Changes

WTTR has been the subject of several recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a report on Monday, July 6th. TD Cowen cut Select Water Solutions to a "neutral" rating in a research report on Friday, August 21st. Raymond James Financial lowered Select Water Solutions from a "strong-buy" rating to an "outperform" rating and upped their target price for the company from $24.00 to $26.00 in a research note on Thursday, August 6th. Wall Street Zen raised shares of Select Water Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Zacks Research downgraded Select Water Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Select Water Solutions Company Profile

Select Water Solutions, Inc provides water management and chemical solutions to the North American oil and gas industry. Its services include water sourcing, transfer, recycling, treatment, storage, and disposal, supporting hydraulic fracturing, drilling, completions, and production operations. The company also provides water infrastructure services and oilfield chemical products and solutions.

The company operates through its Water Services, Water Infrastructure, and Chemical Technologies businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.