Select Water Solutions (NYSE:WTTR) COO Michael Skarke Sells 90,000 Shares

Key Points

• COO Michael Skarke sold shares of Select Water Solutions, offloading 90,000 shares on May 11 at an average price of $17.31 for about $1.56 million. He also sold 20,000 more shares on May 12, reducing his ownership by 19.12%.
• Select Water Solutions recently beat earnings expectations, reporting Q1 EPS of $0.08 versus the $0.06 consensus and revenue of $365.96 million versus $344.63 million expected. However, revenue was still down 2.2% from a year earlier.
• Analysts remain broadly positive on WTTR, with a consensus rating of “Buy” and an average price target of $21.25. Citigroup and Raymond James both raised targets to $24.00, while the stock recently traded near its 12-month high.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) COO Michael Skarke sold 90,000 shares of Select Water Solutions stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.31, for a total transaction of $1,557,900.00. Following the completion of the transaction, the chief operating officer directly owned 380,738 shares in the company, valued at $6,590,574.78. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $17.78, for a total transaction of $355,600.00.

Select Water Solutions Price Performance

NYSE:WTTR traded up $0.43 during mid-day trading on Tuesday, reaching $18.05. The stock had a trading volume of 1,617,215 shares, compared to its average volume of 2,221,821. The stock has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $12.81. The stock has a market capitalization of $2.19 billion, a PE ratio of 85.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.92 and a quick ratio of 1.42. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $365.96 million for the quarter, compared to analysts' expectations of $344.63 million. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, equities analysts anticipate that Select Water Solutions, Inc. will post 0.29 earnings per share for the current year.

Select Water Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.07 per share. 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 payout ratio is presently 133.33%.

Institutional Trading of Select Water Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTTR. Farther Finance Advisors LLC lifted its position in shares of Select Water Solutions by 160.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company's stock worth $28,000 after buying an additional 1,610 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Select Water Solutions in the 3rd quarter worth approximately $29,000. State of Alaska Department of Revenue purchased a new position in shares of Select Water Solutions in the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. boosted its stake 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 buying an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake 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 buying an additional 5,408 shares during the last quarter. 81.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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