Insider Selling: Select Water Solutions (NYSE:WTTR) COO Sells 90,000 Shares of Stock

Select Water Solutions, Inc. (NYSE:WTTR) COO Michael Skarke sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the sale, the chief operating officer owned 380,738 shares of the company’s stock, valued at approximately $6,590,574.78. The trade was a 19.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, May 12th, Michael Skarke sold 20,000 shares of Select Water Solutions stock. The stock was sold at an average price of $17.78, for a total transaction of $355,600.00.

Select Water Solutions Stock Performance

Shares of WTTR stock traded up $0.43 during trading hours on Tuesday, hitting $18.05. 1,617,215 shares of the company were exchanged, compared to its average volume of 2,221,821. The firm has a fifty day simple moving average of $15.28 and a 200 day simple moving average of $12.81. 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, Inc. has a 52-week low of $7.82 and a 52-week high of $18.50. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 85.93 and a beta of 0.99.

Select Water Solutions (NYSE:WTTR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $365.96 million during the quarter, compared to analyst estimates of $344.63 million. During the same quarter last year, the business posted $0.08 EPS. Select Water Solutions’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts predict that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

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

Institutional Trading of Select Water Solutions

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in Select Water Solutions by 10.1% during the first quarter. Royal Bank of Canada now owns 531,681 shares of the company’s stock valued at $5,582,000 after buying an additional 48,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Select Water Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company’s stock valued at $569,000 after buying an additional 2,356 shares during the period. Millennium Management LLC increased its position in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company’s stock valued at $10,236,000 after acquiring an additional 802,833 shares during the period. Jones Financial Companies Lllp increased its position in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock valued at $75,000 after acquiring an additional 6,980 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company’s stock valued at $12,726,000 after acquiring an additional 576,660 shares during the period. 81.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Select Water Solutions

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.