Heckmann Corporation (NYSE: HEK), a services-based company focused on total water solutions for shale or unconventional oil and gas exploration, last week disclosed in a SEC filing that Director Lou Holtz purchased $365,480 worth of company’s common stock.
Holtz bought 100,000 shares of HEK common stock at $3.65 per share. The purchase is the first one filed by Holtz in the past twelve months.
Heckmann shares are marginally higher in trading today. At last check, the stock was trading 0.27% higher at $3.65. Year-to-date, HEK has fallen 45.11%.
Earlier this month, Heckmann released its financial results for the first quarter ended March 31, 2012. HEK reported first-quarter revenue of $55 million, up from $18.2 million reported for the same period in the previous year. HEK’s adjusted EBITDA for the quarter was $10.2 million, compared with $4.1 million reported in the first quarter of 2011.
Richard J. Heckmann, Chairman and CEO of Heckmann, said earlier this month that HEK had a strong start to the year, reporting its sixth consecutive quarter of record revenue. Heckmann said that HEK exceeded its quarterly guidance and all of the expansion in the company’s water business is a result of the new contracts or customers, primarily in the liquid-rich shale areas. Heckmann added that the company’s two business segments are well-positioned for future growth with good momentum.
For the second quarter of 2012, HEK expects total revenue of $100 million.
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