Aris Water Solutions (NYSE:ARIS) Sets New 12-Month High Following Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report) reached a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $31.19 and last traded at $29.80, with a volume of 170434 shares changing hands. The stock had previously closed at $25.66.

The newly announced dividend which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.14 per share. This is an increase from Aris Water Solutions's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.56 annualized dividend and a yield of 1.85%. Aris Water Solutions's dividend payout ratio is presently 70.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Evercore ISI lowered Aris Water Solutions from an "outperform" rating to an "in-line" rating and boosted their price objective for the stock from $25.00 to $27.00 in a report on Wednesday, January 15th. The Goldman Sachs Group raised their target price on Aris Water Solutions from $21.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on Aris Water Solutions from $26.00 to $29.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Citigroup reissued a "neutral" rating and issued a $26.00 price target (up from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.00.

Aris Water Solutions Trading Down 3.9 %

The stock has a market capitalization of $1.76 billion, a PE ratio of 37.79 and a beta of 1.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. The stock's 50 day simple moving average is $26.84 and its two-hundred day simple moving average is $22.23.

Insider Buying and Selling

In related news, major shareholder Delaware Energy Llc sold 3,223,670 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $25.81, for a total transaction of $83,202,922.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider S Corp Gable sold 31,410 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $25.04, for a total transaction of $786,506.40. Following the sale, the insider now directly owns 2,599,740 shares of the company's stock, valued at $65,097,489.60. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,159,678 shares of company stock valued at $106,807,774. Corporate insiders own 23.06% of the company's stock.

Hedge Funds Weigh In On Aris Water Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ARIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Aris Water Solutions by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,246 shares of the company's stock valued at $365,000 after purchasing an additional 557 shares during the period. Quarry LP purchased a new position in shares of Aris Water Solutions during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC bought a new position in shares of Aris Water Solutions during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in Aris Water Solutions in the fourth quarter worth $33,000. Finally, Centiva Capital LP boosted its holdings in Aris Water Solutions by 11.1% in the fourth quarter. Centiva Capital LP now owns 13,647 shares of the company's stock valued at $327,000 after acquiring an additional 1,368 shares in the last quarter. 39.71% of the stock is owned by institutional investors.

Aris Water Solutions Company Profile

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.