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

Select Water Solutions, Inc. (NYSE:WTTR) COO Michael Skarke sold 20,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.78, for a total value of $355,600.00. Following the completion of the transaction, the chief operating officer directly owned 360,738 shares of the company’s stock, valued at $6,413,921.64. This represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 1.6%

Shares of WTTR opened at $18.34 on Thursday. The stock has a 50-day moving average price of $15.37 and a 200 day moving average price of $12.85. Select Water Solutions, Inc. has a one year low of $7.82 and a one year high of $18.50. The company has a market capitalization of $2.23 billion, a P/E ratio of 87.31 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.

Select Water Solutions (NYSE:WTTR) last announced its quarterly earnings data 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 firm had revenue of $365.96 million for the quarter, compared to analysts’ expectations of $344.63 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Select Water Solutions’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that Select Water Solutions, Inc. will post 0.29 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, April 30th. This represents a $0.28 annualized dividend and a yield of 1.5%. Select Water Solutions’s dividend payout ratio is presently 133.33%.

Institutional Trading of Select Water Solutions

Several large investors have recently added to or reduced their stakes in WTTR. Farther Finance Advisors LLC increased its position in Select Water Solutions by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $28,000 after acquiring an additional 1,610 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Select Water Solutions in the 3rd quarter valued at approximately $29,000. State of Alaska Department of Revenue acquired a new stake in Select Water Solutions in the 3rd quarter valued at approximately $33,000. Osaic Holdings Inc. increased its position in Select Water Solutions by 59.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in 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 valued at $60,000 after acquiring an additional 5,408 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on WTTR. Citigroup upped their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Raymond James Financial restated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Piper Sandler increased their price target on Select Water Solutions from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Northland Securities set a $21.00 price target on Select Water Solutions in a research report on Thursday, May 7th. One investment 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.