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 shares were sold at an average price of $18.73, for a total transaction of $368,681.32. Following the transaction, the director directly owned 116,894 shares of the company’s stock, valued at $2,189,424.62. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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 transaction of $849,221.84.

Select Water Solutions Stock Performance

Shares of NYSE:WTTR opened at $20.03 on Wednesday. Select Water Solutions, Inc. has a 52 week low of $7.82 and a 52 week high of $20.18. The stock has a market capitalization of $2.77 billion, a P/E ratio of 95.37 and a beta of 0.99. The firm has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $13.07. 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 (NYSE:WTTR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Select Water Solutions had a net margin of 1.54% and a return on equity of 2.21%. The business had revenue of $365.96 million during the quarter, compared to analysts’ expectations of $344.63 million. During the same period last year, the company posted $0.08 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Select Water Solutions, Inc. will post 0.29 earnings per share for the current fiscal year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid 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%.

Institutional Investors Weigh In On Select Water Solutions

Large investors have recently modified their holdings of the business. Cinctive Capital Management LP raised its holdings in shares of Select Water Solutions by 55.7% in the 3rd quarter. Cinctive Capital Management LP now owns 623,285 shares of the company’s stock valued at $6,663,000 after purchasing an additional 222,849 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in shares of Select Water Solutions by 12.2% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,179,161 shares of the company’s stock valued at $12,618,000 after purchasing an additional 128,257 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Select Water Solutions by 91.9% in the 3rd quarter. Gabelli Funds LLC now owns 325,209 shares of the company’s stock valued at $3,476,000 after purchasing an additional 155,703 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Select Water Solutions by 176.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 299,129 shares of the company’s stock valued at $3,147,000 after purchasing an additional 191,086 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new stake in shares of Select Water Solutions in the 3rd quarter valued at about $1,604,000. Institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WTTR. Wall Street Zen raised shares of Select Water Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Raymond James Financial reissued a “strong-buy” rating and issued a $24.00 price objective on shares of Select Water Solutions in a research note on Thursday, May 7th. Citigroup lifted 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, May 12th. Northland Securities set a $21.00 target price on shares of Select Water Solutions in a report on Thursday, May 7th. Finally, Piper Sandler raised their target price on shares of Select Water Solutions from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Select Water Solutions presently has a consensus rating of “Buy” and an average price target 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.