Richard Alan Burnett Sells 45,316 Shares of Select Water Solutions (NYSE:WTTR) Stock

Select Water Solutions, Inc. (NYSE:WTTR) Director Richard Alan Burnett sold 45,316 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $18.74, for a total value of $849,221.84. Following the completion of the sale, the director directly owned 71,578 shares of the company’s stock, valued at approximately $1,341,371.72. The trade was a 38.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Richard Alan Burnett also recently made the following trade(s):

• On Thursday, May 14th, Richard Alan Burnett sold 19,684 shares of Select Water Solutions stock. The shares were sold at an average price of $18.73, for a total value of $368,681.32.

Select Water Solutions Stock Performance

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

Select Water Solutions (NYSE:WTTR) last released 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 analysts’ expectations of $344.63 million. During the same period last year, the firm posted $0.08 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. As a group, 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 firm also recently disclosed 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 dividend on an annualized basis 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 presently 133.33%.

Hedge Funds Weigh In On Select Water Solutions

A number of large investors have recently made changes to their positions in WTTR. Wilmington Savings Fund Society FSB bought a new position in shares of Select Water Solutions during the third quarter worth approximately $29,000. State of Alaska Department of Revenue bought a new position in shares of Select Water Solutions during the third quarter worth approximately $33,000. Osaic Holdings Inc. increased its stake 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 purchasing an additional 1,830 shares during the period. CIBC Private Wealth Group LLC increased its stake in 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 worth $60,000 after acquiring an additional 5,408 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in Select Water Solutions by 5,584.0% during the 1st 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 during the period. Institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WTTR has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $24.00 price objective on shares of 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. Wall Street Zen raised Select Water Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup raised their price objective on Select Water Solutions from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Piper Sandler increased their target price on Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $22.50.

Select Water Solutions Company Profile

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.