Aris Water Solutions (NYSE:ARIS) Stock Price Up 3.8% - Here's What Happened

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report)'s share price rose 3.8% on Tuesday . The company traded as high as $30.18 and last traded at $30.08. Approximately 346,507 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 492,751 shares. The stock had previously closed at $28.99.

Wall Street Analyst Weigh In

ARIS has been the topic of a number of analyst reports. Stifel Nicolaus raised their price target on Aris Water Solutions from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their target price on Aris Water Solutions from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Citigroup reiterated a "neutral" rating and set a $26.00 target price (up previously from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. Finally, Evercore ISI cut Aris Water Solutions from an "outperform" rating to an "in-line" rating and lifted their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Aris Water Solutions has an average rating of "Hold" and a consensus target price of $27.00.

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Aris Water Solutions Stock Performance

The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $28.35 and a 200-day moving average of $23.49. The stock has a market cap of $1.87 billion, a PE ratio of 39.91 and a beta of 1.88.

Aris Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, March 13th. This is a positive change from Aris Water Solutions's previous quarterly dividend of $0.11. Aris Water Solutions's payout ratio is currently 70.00%.

Insider Buying and Selling at Aris Water Solutions

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of Aris Water Solutions stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total value of $253,949.40. Following the sale, the insider now owns 58,228 shares of the company's stock, valued at approximately $1,781,776.80. The trade was a 12.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder S Corp Gable sold 316,408 shares of Aris Water Solutions stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $25.28, for a total transaction of $7,998,794.24. Following the sale, the insider now owns 2,634,791 shares of the company's stock, valued at approximately $66,607,516.48. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,910,142 shares of company stock valued at $50,977,332. 23.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARIS. Principal Financial Group Inc. acquired a new position in shares of Aris Water Solutions during the 3rd quarter worth approximately $514,000. Advisors Asset Management Inc. raised its position in shares of Aris Water Solutions by 53.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company's stock worth $355,000 after purchasing an additional 7,281 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Aris Water Solutions during the 3rd quarter worth approximately $10,828,000. Martingale Asset Management L P raised its position in shares of Aris Water Solutions by 81.0% during the 3rd quarter. Martingale Asset Management L P now owns 60,582 shares of the company's stock worth $1,022,000 after purchasing an additional 27,109 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Aris Water Solutions by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 523,533 shares of the company's stock worth $8,832,000 after purchasing an additional 23,594 shares during the last quarter. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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.