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

Key Points

• Select Water Solutions COO Michael Skarke sold 20,000 shares on May 12 at an average price of $17.78, totaling about $355,600. He still owns 360,738 shares after the sale, and the transaction cut his position by 5.25%.
• The stock was trading higher on Tuesday, up 2.4% to $18.05, near its 52-week high of $18.50. The company has a market cap of $2.19 billion and has rallied well above its 50-day and 200-day moving averages.
• Recent earnings and analyst sentiment were positive: Select Water Solutions reported $0.08 EPS versus the $0.06 estimate and revenue of $365.96 million versus expectations. Analysts currently rate the stock a consensus Buy with an average target price of $21.25.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) COO Michael Skarke sold 20,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the sale, the chief operating officer directly owned 360,738 shares in the company, valued at approximately $6,413,921.64. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 shares were sold at an average price of $17.31, for a total value of $1,557,900.00.

Select Water Solutions Trading Up 2.4%

Shares of NYSE:WTTR traded up $0.43 during midday trading on Tuesday, hitting $18.05. 1,617,215 shares of the stock were exchanged, compared to its average volume of 2,221,821. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 85.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.92. The business's 50-day moving average price is $15.28 and its 200 day moving average price is $12.81. Select Water Solutions, Inc. has a 12 month low of $7.82 and a 12 month high of $18.50.

Select Water Solutions (NYSE:WTTR - Get Free Report) last released its quarterly earnings results 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 for 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%.The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. Analysts predict that Select Water Solutions, Inc. will post 0.29 earnings per share for the current 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, April 30th. Select Water Solutions's payout ratio is 133.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in shares of Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company's stock worth $28,000 after acquiring an additional 1,610 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions in the 3rd quarter worth about $29,000. State of Alaska Department of Revenue bought a new position in shares of Select Water Solutions in the 3rd quarter worth about $33,000. Osaic Holdings Inc. raised its position in shares of Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company's stock worth $42,000 after acquiring an additional 1,830 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Select Water Solutions by 2,704.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company's stock worth $60,000 after acquiring an additional 5,408 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Piper Sandler lifted their target price on Select Water Solutions from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Citigroup lifted their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday. Northland Securities set a $21.00 target price on Select Water Solutions in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a report on Wednesday, April 8th. 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 stock. Based on data from MarketBeat, Select Water Solutions currently has an average rating of "Buy" and an average target price 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.

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