How are energy investors positioned?
John Schmitz, the President and CEO of Select Water Solutions, Inc. (NYSE:WTTR), recently sold a significant portion of the company’s Class A Common Stock. According to the latest SEC filing, Schmitz sold 73,450 shares on February 14 at an average price of $13.03, totaling approximately $957,053. This sale was conducted under a 10b5-1 trading plan that Schmitz adopted in November 2024. The transaction comes as WTTR, currently valued at $1.52 billion, has delivered an impressive 65% return over the past year. InvestingPro analysis indicates the stock is currently fairly valued, with analysts setting price targets between $16-19.
Additionally, the filing detailed other transactions, including the acquisition of 55,788 shares represented by performance share units (PSUs) granted in 2022, which were acquired at no cost. Schmitz also disposed of 13,532 shares at $13.14 to satisfy tax withholding obligations arising from the vesting of these PSUs. Following these transactions, Schmitz directly owns 422,950 shares of Select Water Solutions and holds additional shares through various trusts. The company maintains strong financial health according to InvestingPro metrics, with liquid assets exceeding short-term obligations and moderate debt levels. Discover more insights and 6 additional ProTips with an InvestingPro subscription, including detailed analysis of WTTR’s financial performance and growth prospects.
In other recent news, Select Energy Services Inc. reported its fourth-quarter earnings for 2024, revealing an earnings per share (EPS) of -$0.02, which fell short of market expectations of $0.11. However, the company’s revenue exceeded forecasts, coming in at $349 million against the expected $339.97 million. Despite the earnings miss, Select Energy Services raised its quarterly dividend by 17% and continues to expand its water infrastructure and recycling capabilities. The company achieved a gross margin of 53% in its Water Infrastructure segment and reported an adjusted EBITDA of $258 million. Additionally, Select Energy Services generated a free cash flow of $78 million, demonstrating strong operational performance. Looking forward, the company anticipates a 15-25% revenue growth in its Water Infrastructure segment for 2025. The company also projects net capital expenditures of $170-$190 million for the year. These developments reflect Select Energy Services’ ongoing strategic focus on expanding its infrastructure and enhancing its market position.
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