Richard Alan Burnett Sells 45,316 Shares of Select Water Solutions (NYSE:WTTR) Stock

Key Points

• Insider sale: Director Richard Alan Burnett sold 45,316 shares of Select Water Solutions at an average price of $18.74, totaling about $849,222. After the sale, he still held 71,578 shares, and the move cut his ownership by 38.77%.
• Stock and earnings update: WTTR rose 2.9% to $19.50, near its 52-week high of $19.75. The company recently beat quarterly expectations with EPS of $0.08 versus $0.06 expected and revenue of $365.96 million versus $344.63 million projected.
• Dividend and analyst sentiment: Select Water Solutions paid a quarterly dividend of $0.07 per share, implying a 1.4% yield, though the payout ratio is high at 133.33%. Analysts currently rate the stock a consensus Buy with a $22.50 average price target.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) Director Richard Alan Burnett sold 45,316 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the transaction, the director directly owned 71,578 shares of the company's stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Richard Alan Burnett also recently made the following trade(s):

• On Thursday, May 14th, Richard Alan Burnett sold 19,684 shares of Select Water Solutions stock. The shares were sold at an average price of $18.73, for a total value of $368,681.32.

Select Water Solutions Trading Up 2.9%

NYSE:WTTR traded up $0.54 on Monday, reaching $19.50. The company's stock had a trading volume of 1,943,360 shares, compared to its average volume of 1,637,095. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92. The firm has a market cap of $2.69 billion, a PE ratio of 92.88 and a beta of 0.99. The business's 50-day moving average price is $15.58 and its two-hundred day moving average price is $12.95. Select Water Solutions, Inc. has a 1-year low of $7.82 and a 1-year high of $19.75.

Select Water Solutions (NYSE:WTTR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $365.96 million during the quarter, compared to analysts' expectations of $344.63 million. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.Select Water Solutions's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Equities research analysts anticipate that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions's dividend payout ratio is currently 133.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WTTR. Wilmington Savings Fund Society FSB acquired a new position in Select Water Solutions during the third quarter valued at approximately $29,000. State of Alaska Department of Revenue acquired a new position in Select Water Solutions during the third quarter valued at approximately $33,000. Osaic Holdings Inc. boosted its position in Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock valued at $42,000 after purchasing an additional 1,830 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock valued at $60,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock valued at $75,000 after purchasing an additional 6,980 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WTTR has been the subject of several recent research reports. Northland Securities set a $21.00 price objective on Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Wall Street Zen raised Select Water Solutions from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price objective on shares of Select Water Solutions in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $22.50.

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.

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