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) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 3,830,000 shares, anincreaseof348.1% from the June 30th total of 854,800 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 3.5 days. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WTTR. First Trust Advisors LP boosted its holdings in shares of Select Water Solutions by 21.9% in the 4th quarter. First Trust Advisors LP now owns 6,828,596 shares of the company's stock valued at $90,411,000 after purchasing an additional 1,226,061 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Select Water Solutions by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,953 shares of the company's stock worth $66,769,000 after acquiring an additional 488,443 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Select Water Solutions by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 4,070,293 shares of the company's stock worth $42,738,000 after acquiring an additional 293,784 shares in the last quarter. Victory Capital Management Inc. increased its position in Select Water Solutions by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,953,648 shares of the company's stock valued at $41,513,000 after buying an additional 229,736 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Select Water Solutions by 10.8% in the 1st quarter. American Century Companies Inc. now owns 3,518,256 shares of the company's stock valued at $36,942,000 after buying an additional 343,581 shares in the last quarter. 81.73% of the stock is currently owned by institutional investors.

Select Water Solutions Price Performance

NYSE WTTR opened at $9.02 on Friday. Select Water Solutions has a fifty-two week low of $7.20 and a fifty-two week high of $15.14. The stock's 50-day moving average is $9.08 and its two-hundred day moving average is $9.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.67. The firm has a market cap of $1.08 billion, a P/E ratio of 26.53 and a beta of 1.26.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The business had revenue of $374.38 million for the quarter, compared to the consensus estimate of $360.78 million. Select Water Solutions had a return on equity of 3.96% and a net margin of 2.42%. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. On average, analysts anticipate that Select Water Solutions will post 0.91 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 5th. Select Water Solutions's dividend payout ratio is currently 82.35%.

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.

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