Select Water Solutions (NYSE:WTTR) Director Richard Alan Burnett Sells 19,684 Shares

Key Points

• Director Richard Alan Burnett sold shares of Select Water Solutions, offloading 19,684 shares on May 14 at an average price of $18.73, worth about $368,681. He later sold another 45,316 shares on May 15, bringing his total recent sales to more than $1.2 million.
• WTTR shares have been rallying, rising to $19.50 in Monday trading near their 52-week high of $19.75. The stock has gained traction amid higher-than-average trading volume and a strong recent move above its 50-day and 200-day moving averages.
• The company reported solid quarterly results and has a favorable analyst outlook, beating EPS and revenue estimates in its latest earnings release. Wall Street currently has a consensus Buy rating on the stock, with an average price target of $22.50.

Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) Director Richard Alan Burnett sold 19,684 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $18.73, for a total value of $368,681.32. Following the completion of the sale, the director owned 116,894 shares in the company, valued at approximately $2,189,424.62. This represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, May 15th, Richard Alan Burnett sold 45,316 shares of Select Water Solutions stock. The shares were sold at an average price of $18.74, for a total value of $849,221.84.

Select Water Solutions Price Performance

Shares of WTTR stock traded up $0.54 during mid-day trading on Monday, hitting $19.50. 1,943,360 shares of the stock traded hands, compared to its average volume of 1,637,095. Select Water Solutions, Inc. has a twelve month low of $7.82 and a twelve month high of $19.75. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 92.88 and a beta of 0.99. The company's 50-day simple moving average is $15.58 and its 200-day simple moving average is $12.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.92.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Select Water Solutions had a return on equity of 2.21% and a net margin of 1.54%.The company had revenue of $365.96 million for the quarter, compared to analysts' expectations of $344.63 million. During the same period last year, the firm earned $0.08 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Select Water Solutions, Inc. will post 0.29 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. Select Water Solutions's dividend payout ratio (DPR) is 133.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WTTR shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $24.00 price target on shares of Select Water Solutions in a research report on Thursday, May 7th. Piper Sandler lifted their price target on Select Water Solutions from $16.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday. Wall Street Zen raised Select Water Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup raised their price objective on Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Select Water Solutions has a consensus rating of "Buy" and an average target price of $22.50.

Institutional Investors Weigh In On Select Water Solutions

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Select Water Solutions during the 3rd quarter worth $29,000. State of Alaska Department of Revenue bought a new stake in shares of Select Water Solutions during the 3rd quarter worth $33,000. Osaic Holdings Inc. boosted its stake in shares of Select Water Solutions by 59.9% during 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. CIBC Private Wealth Group LLC boosted its stake in shares of Select Water Solutions by 2,704.0% during 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. Finally, Jones Financial Companies Lllp boosted its stake in shares of Select Water Solutions by 5,584.0% during the 1st quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after acquiring an additional 6,980 shares in the last quarter. 81.73% of the stock is owned by institutional investors.

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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