Insider Selling: Select Water Solutions (NYSE:WTTR) CAO Sells 20,000 Shares of Stock
by Doug Wharley · The Cerbat GemSelect Water Solutions, Inc. (NYSE:WTTR – Get Free Report) CAO Brian Szymanski sold 20,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $17.04, for a total value of $340,800.00. Following the sale, the chief accounting officer owned 114,752 shares in the company, valued at approximately $1,955,374.08. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Select Water Solutions Stock Up 2.4%
WTTR traded up $0.43 during trading on Tuesday, hitting $18.05. 1,617,215 shares of the company’s stock traded hands, compared to its average volume of 2,221,821. The company’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $12.81. The company has a current ratio of 1.92, a quick ratio of 1.42 and a debt-to-equity ratio of 0.18. Select Water Solutions, Inc. has a 12-month low of $7.82 and a 12-month high of $18.50. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 85.93 and a beta of 0.99.
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. 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 during the quarter, compared to the consensus estimate of $344.63 million. During the same period in the previous year, the company posted $0.08 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. Analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend 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 133.33%.
Institutional Trading of Select Water Solutions
A number of hedge funds have recently bought and sold shares of WTTR. Farther Finance Advisors LLC lifted its holdings in Select Water Solutions by 160.2% during the third 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Select Water Solutions during the third quarter worth $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Select Water Solutions during the 3rd quarter valued at $33,000. Osaic Holdings Inc. lifted its holdings 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 valued at $42,000 after purchasing an additional 1,830 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings 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 valued at $60,000 after purchasing an additional 5,408 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on WTTR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a report on Wednesday, April 8th. Citigroup boosted 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. 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 research note on Thursday, February 26th. Northland Securities set a $21.00 price objective on Select Water Solutions in a research note on Thursday, May 7th. Finally, Raymond James Financial reissued 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. One equities research 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $21.25.
Read Our Latest Stock Analysis on Select Water Solutions
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.
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