Select Water Solutions, Inc.'s (NYSE:WTTR) Executive Vice President and Chief Operating Officer, Michael Skarke, has sold a portion of his company stock, according to a recent filing with the U.S. Securities and Exchange Commission. The transaction, which took place on May 13, 2024, involved the sale of 13,421 shares of Class A Common Stock at a weighted average price of $9.78 per share, resulting in a total sale value of approximately $131,257.
The sale was executed in multiple trades with prices ranging from $9.77 to $9.80. This range indicates a relatively stable price for Select Water Solutions' stock during the time of the transaction. Following this sale, Skarke still retains a significant stake in the company, with 380,981 shares of Class A Common Stock remaining in his possession.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's current status and future prospects. However, it is important to note that such sales could be motivated by a variety of personal financial considerations and do not necessarily reflect a negative outlook on the company's performance.
Select Water Solutions, Inc., based in Houston, Texas, operates in the oil and gas field services industry, providing a range of services and solutions. The company's stock is publicly traded under the ticker symbol WTTR on the New York Stock Exchange.
For those interested in the specifics of the transaction, Skarke has committed to providing full information regarding the number of shares sold at each separate price within the reported range upon request by Select Water Solutions, Inc., any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission.
This recent filing provides a transparent view of the trading activity of one of Select Water Solutions' top executives, ensuring that shareholders and potential investors have access to pertinent information regarding insider trades.
InvestingPro Insights
In light of the recent insider stock sale by Select Water Solutions, Inc.'s (NYSE:WTTR) Executive Vice President and Chief Operating Officer, investors may be seeking additional context to assess the company's financial health and market performance. Here are some key metrics and insights from InvestingPro that can provide a deeper understanding of WTTR's current standing:
WTTR currently holds a market capitalization of approximately $1.16 billion, indicating a solid presence in the oil and gas field services industry. The company's P/E ratio stands at a competitive 14.87, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 13.53, suggesting that the stock may be trading at a low price relative to near-term earnings growth. This is further supported by a PEG ratio of 0.8 for the same period, which can be attractive to investors looking for growth at a reasonable price.
Moreover, Select Water Solutions has shown a strong return over the last three months, with a price total return of 30.6%. This performance is indicative of the company's robust market activity and investor confidence. Additionally, the company's liquid assets exceed its short-term obligations, which is a reassuring sign of financial stability.
For those considering a deeper dive into WTTR's financials and future prospects, there are additional InvestingPro Tips available. For instance, analysts predict the company will be profitable this year and it has been profitable over the last twelve months. Furthermore, Select Water Solutions is operating with a moderate level of debt, which can be a prudent strategy in the volatile oil and gas sector.
Investors interested in these and other expert analyses can explore more on InvestingPro. There are 9 additional InvestingPro Tips that can offer a comprehensive look into WTTR's performance and outlook. To access these insights, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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