Key Points
- COO Michael Skarke sold 90,000 shares of Select Water Solutions at an average price of $17.31, for proceeds of about $1.56 million, and later sold another 20,000 shares at $17.78. His direct holdings fell by 19.12% after the first sale.
- Select Water Solutions reported quarterly results above expectations, posting EPS of $0.08 versus the $0.06 consensus and revenue of $365.96 million versus estimates of $344.63 million, though revenue was still down 2.2% year over year.
- Analysts remain generally bullish on WTTR, with a consensus rating of “Buy” and an average price target of $21.25 after recent target increases from firms including Citigroup, Northland Securities, and Raymond James.
Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) CAO Brian Szymanski sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $17.04, for a total transaction of $340,800.00. Following the sale, the chief accounting officer owned 114,752 shares of the company's stock, valued at $1,955,374.08. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Select Water Solutions Trading Up 2.4%
Shares of NYSE:WTTR opened at $18.05 on Wednesday. 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, Inc. has a 1-year low of $7.82 and a 1-year high of $18.50. 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 company has a 50 day moving average price of $15.28 and a 200 day moving average price of $12.81.
Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $365.96 million during 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 revenue for the quarter 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, research analysts anticipate that Select Water Solutions, Inc. will post 0.29 EPS for the current fiscal year.
Select Water Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, April 30th. Select Water Solutions's dividend payout ratio (DPR) is presently 133.33%.
Institutional Investors Weigh In On Select Water Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTTR. Franklin Resources Inc. lifted its position in Select Water Solutions by 56.4% in the 4th quarter. Franklin Resources Inc. now owns 7,726,049 shares of the company's stock worth $81,278,000 after buying an additional 2,786,172 shares in the last quarter. Alliancebernstein L.P. lifted its position in Select Water Solutions by 2,133.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,131,277 shares of the company's stock worth $22,783,000 after buying an additional 2,035,870 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Select Water Solutions by 124.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,801,488 shares of the company's stock worth $19,258,000 after buying an additional 997,847 shares in the last quarter. Millennium Management LLC lifted its position in Select Water Solutions by 466.8% in the 1st quarter. Millennium Management LLC now owns 974,821 shares of the company's stock worth $10,236,000 after buying an additional 802,833 shares in the last quarter. Finally, Encompass Capital Advisors LLC lifted its position in Select Water Solutions by 31.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 3,118,824 shares of the company's stock worth $32,810,000 after buying an additional 746,534 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Raymond James Financial restated 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 raised their target price on shares of Select Water Solutions from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Finally, Citigroup raised their price objective on shares of Select Water Solutions from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Select Water Solutions has a consensus rating of "Buy" and an average target price of $21.25.
View Our Latest Research Report on Select Water Solutions
Select Water Solutions Company Profile
(
Get Free Report)
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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