Select Water Solutions, Inc. (NYSE:WTTR) Short Interest Update

Key Points

• Select Water Solutions experienced a significant increase in short interest of 348.1% in July, with total short interest reaching 3,830,000 shares.
• Research analysts have set a consensus rating of "Buy" for the company, with target prices ranging from $14.00 to $19.00.
• The company declared a quarterly dividend of $0.07 per share, with a dividend yield of 3.1%, set to be paid on August 15th.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 3,830,000 shares, agrowthof348.1% from the June 30th total of 854,800 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 3.5 days. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 3.5 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Select Water Solutions from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial decreased their price objective on Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Friday, May 9th. Finally, Piper Sandler began coverage on shares of Select Water Solutions in a report on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 price objective on the stock. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Select Water Solutions has a consensus rating of "Buy" and an average target price of $14.88.

Institutional Trading of Select Water Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in Select Water Solutions by 547.8% during the 4th quarter. Sei Investments Co. now owns 171,191 shares of the company's stock worth $2,267,000 after purchasing an additional 144,765 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Select Water Solutions in the fourth quarter worth $410,000. Arrowstreet Capital Limited Partnership raised its position in shares of Select Water Solutions by 254.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 524,354 shares of the company's stock worth $6,942,000 after buying an additional 376,218 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Select Water Solutions in the fourth quarter worth $1,664,000. Finally, Wells Fargo & Company MN raised its position in Select Water Solutions by 284.9% during the fourth quarter. Wells Fargo & Company MN now owns 234,356 shares of the company's stock valued at $3,103,000 after purchasing an additional 173,475 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Select Water Solutions Price Performance

WTTR stock traded up $0.06 during trading on Thursday, hitting $8.69. The company had a trading volume of 527,489 shares, compared to its average volume of 1,249,483. The company has a fifty day moving average price of $9.13 and a two-hundred day moving average price of $9.88. The company has a current ratio of 1.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.05 billion, a P/E ratio of 28.04 and a beta of 1.26. Select Water Solutions has a fifty-two week low of $7.20 and a fifty-two week high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. Select Water Solutions had a net margin of 2.26% and a return on equity of 3.70%. The company's revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. Equities research analysts expect that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, August 5th. Select Water Solutions's dividend payout ratio (DPR) is presently 90.32%.

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.