Key Points
- Director Richard Alan Burnett sold 19,684 shares of Select Water Solutions on May 14 at an average price of $18.73, worth about $368,681. His stake fell 14.41% after the sale, and he later sold an additional 45,316 shares on May 15.
- Select Water Solutions beat earnings expectations in its latest quarter, reporting $0.08 EPS versus the $0.06 consensus and revenue of $365.96 million versus $344.63 million expected. Revenue was still down 2.2% year over year.
- Wall Street sentiment has turned bullish, with analysts including Piper Sandler and Citigroup raising price targets. The stock now has an average rating of “Buy” and an average target price of $22.50.
Select Water Solutions, Inc. (NYSE:WTTR - Get Free Report) Director Richard Alan Burnett sold 19,684 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $18.73, for a total value of $368,681.32. Following the transaction, the director directly owned 116,894 shares in the company, valued at $2,189,424.62. The trade was a 14.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $18.74, for a total value of $849,221.84.
Select Water Solutions Price Performance
WTTR opened at $19.50 on Tuesday. Select Water Solutions, Inc. has a 12-month low of $7.82 and a 12-month high of $19.75. The company has a current ratio of 1.92, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The business's fifty day simple moving average is $15.69 and its 200-day simple moving average is $13.01. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 92.88 and a beta of 0.99.
Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 2.21% and a net margin of 1.54%.The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. On average, equities research analysts anticipate that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.
Select Water Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Thursday, April 30th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, April 30th. Select Water Solutions's dividend payout ratio is 133.33%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of WTTR. Royal Bank of Canada raised its stake in shares of Select Water Solutions by 10.1% in the first quarter. Royal Bank of Canada now owns 531,681 shares of the company's stock worth $5,582,000 after purchasing an additional 48,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Select Water Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,221 shares of the company's stock worth $569,000 after purchasing an additional 2,356 shares during the last quarter. Millennium Management LLC raised its stake in shares of Select Water Solutions by 466.8% in the first quarter. Millennium Management LLC now owns 974,821 shares of the company's stock worth $10,236,000 after purchasing an additional 802,833 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Select Water Solutions by 5,584.0% in the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company's stock worth $75,000 after purchasing an additional 6,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Select Water Solutions by 90.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,008 shares of the company's stock worth $12,726,000 after purchasing an additional 576,660 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on WTTR shares. Piper Sandler upped their price objective on Select Water Solutions from $16.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday. Wall Street Zen upgraded Select Water Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 price target on shares of Select Water Solutions in a research note on Thursday, May 7th. Northland Securities set a $21.00 price target on Select Water Solutions in a report on Thursday, May 7th. Finally, Citigroup raised 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, May 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $22.50.
Get Our Latest Stock Report on WTTR
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.
Further Reading
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