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 business’s 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 sale, the chief operating officer directly owned 360,738 shares of the company’s stock, valued at $6,413,921.64. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Stock Up 2.4%

Select Water Solutions stock traded up $0.43 during midday trading on Tuesday, reaching $18.05. The stock had a trading volume of 1,617,215 shares, compared to its average volume of 2,221,821. Select Water Solutions, Inc. has a 12 month low of $7.82 and a 12 month high of $18.50. The company has a market capitalization of $2.19 billion, a P/E ratio of 85.93 and a beta of 0.99. The company has a fifty day moving average price of $15.28 and a two-hundred day moving average price of $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 (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 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 business had revenue of $365.96 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. As a group, equities analysts expect that Select Water Solutions, Inc. will post 0.29 EPS for the current fiscal year.

Select Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders 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 of this dividend is Thursday, April 30th. Select Water Solutions’s payout ratio is currently 133.33%.

Institutional Trading of Select Water Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Select Water Solutions by 0.6% during the 4th quarter. Barclays PLC now owns 147,581 shares of the company’s stock valued at $1,553,000 after acquiring an additional 857 shares during the period. Inspire Investing LLC increased its holdings in shares of Select Water Solutions by 1.9% in the 4th quarter. Inspire Investing LLC now owns 55,271 shares of the company’s stock worth $581,000 after buying an additional 1,023 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Select Water Solutions by 8.4% in the 4th quarter. ProShare Advisors LLC now owns 17,299 shares of the company’s stock worth $182,000 after buying an additional 1,336 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Select Water Solutions by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 64,258 shares of the company’s stock worth $686,000 after buying an additional 1,541 shares during the last quarter. Finally, Legato Capital Management LLC increased its holdings in shares of Select Water Solutions by 1.7% in the 3rd quarter. Legato Capital Management LLC now owns 97,358 shares of the company’s stock worth $1,041,000 after buying an additional 1,587 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WTTR. 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 report on Thursday, February 26th. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Select Water Solutions in a research note on Wednesday, April 8th. Citigroup boosted their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Northland Securities set a $21.00 target price on Select Water Solutions in a research note on Thursday, May 7th. 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, the company currently has a consensus rating of “Buy” and an average target price 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.