Richard Alan Burnett Sells 19,684 Shares of Select Water Solutions (NYSE:WTTR) Stock

Select Water Solutions, Inc. (NYSE:WTTR) Director Richard Alan Burnett sold 19,684 shares of the firm’s 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 completion of the sale, the director directly owned 116,894 shares of the company’s stock, valued at approximately $2,189,424.62. This trade represents a 14.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Stock Up 2.9%

Shares of Select Water Solutions stock traded up $0.54 during midday trading on Monday, hitting $19.50. The company’s stock had a trading volume of 1,943,360 shares, compared to its average volume of 1,637,095. The firm has a market capitalization of $2.69 billion, a P/E ratio of 92.88 and a beta of 0.99. The stock has a 50-day simple moving average of $15.58 and a 200-day simple moving average of $12.95. The company has a quick ratio of 1.76, a current ratio of 1.92 and a debt-to-equity ratio of 0.18. Select Water Solutions, Inc. has a 1-year low of $7.82 and a 1-year high of $19.75.

Select Water Solutions (NYSE:WTTR) last issued its earnings results on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business 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%.Select Water Solutions’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, sell-side analysts expect that Select Water Solutions, Inc. will post 0.29 earnings per share for the current year.

Select Water Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, April 30th. Select Water Solutions’s dividend payout ratio (DPR) is 133.33%.

Institutional Trading of Select Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of WTTR. Wilmington Savings Fund Society FSB purchased a new stake 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 third quarter worth $33,000. Osaic Holdings Inc. raised its holdings in shares of Select Water Solutions by 59.9% during the second quarter. Osaic Holdings Inc. now owns 4,883 shares of the company’s stock worth $42,000 after acquiring an additional 1,830 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Select Water Solutions by 2,704.0% during the third quarter. CIBC Private Wealth Group LLC now owns 5,608 shares of the company’s stock worth $60,000 after acquiring an additional 5,408 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Select Water Solutions by 5,584.0% during the first quarter. Jones Financial Companies Lllp now owns 7,105 shares of the company’s stock worth $75,000 after acquiring an additional 6,980 shares in the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WTTR has been the subject of several recent analyst reports. Northland Securities set a $21.00 target price on Select Water Solutions in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Select Water Solutions in a research report on Wednesday, April 8th. Citigroup raised their target price on Select Water Solutions from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating and set a $24.00 price objective on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded Select Water Solutions from a “hold” rating to a “buy” rating in a report on Saturday. One investment 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.50.

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.