Select Water Solutions (NYSE:WTTR) COO Michael Skarke Sells 20,000 Shares

Select Water Solutions, Inc. (NYSE:WTTR) COO Michael Skarke sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $17.78, for a total transaction of $355,600.00. Following the transaction, the chief operating officer directly owned 360,738 shares in the company, valued at $6,413,921.64. This trade represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Michael Skarke also recently made the following trade(s):

• On Monday, May 11th, Michael Skarke sold 90,000 shares of Select Water Solutions stock. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00.

Select Water Solutions Trading Up 2.4%

Shares of WTTR stock opened at $18.05 on Wednesday. Select Water Solutions, Inc. has a 1 year low of $7.82 and a 1 year high of $18.50. The firm’s fifty day simple moving average is $15.28 and its 200 day simple moving average is $12.81. The firm has a market capitalization of $2.19 billion, a P/E ratio of 85.93 and a beta of 0.99. The company has a current ratio of 1.92, a quick ratio of 1.42 and a debt-to-equity ratio of 0.18.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The business had revenue of $365.96 million for the quarter, compared to analyst estimates of $344.63 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Select Water Solutions’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Select Water Solutions, Inc. will post 0.29 EPS for the current year.

Select Water Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Select Water Solutions’s payout ratio is 133.33%.

Institutional Investors Weigh In On Select Water Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Cinctive Capital Management LP boosted its stake in shares of Select Water Solutions by 55.7% in the 3rd quarter. Cinctive Capital Management LP now owns 623,285 shares of the company’s stock valued at $6,663,000 after purchasing an additional 222,849 shares in the last quarter. Penn Capital Management Company LLC boosted its stake in shares of Select Water Solutions by 12.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company’s stock valued at $12,618,000 after purchasing an additional 128,257 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Select Water Solutions by 91.9% in the 3rd quarter. Gabelli Funds LLC now owns 325,209 shares of the company’s stock valued at $3,476,000 after purchasing an additional 155,703 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Select Water Solutions by 176.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock valued at $3,147,000 after purchasing an additional 191,086 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in shares of Select Water Solutions in the 3rd quarter valued at $1,604,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Citigroup lifted their price target on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Northland Securities set a $21.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Finally, Piper Sandler lifted their price target on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $21.25.

Select Water Solutions Company Profile

Select Water Solutions, Inc, headquartered in Houston, Texas, is a water management services provider primarily serving the oil and gas industry. Formerly operating under the name Select Energy Services, the company rebranded to reflect its core focus on water treatment, recycling and disposal. Since its inception in 2016, Select Water Solutions has expanded to key U.S. basins—including the Permian, Eagle Ford, Marcellus and DJ Basin—and maintains strategic operations in select international regions.

The company’s offerings span the full water lifecycle, from produced water gathering and transportation to advanced treatment and beneficial reuse.