Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report)'s stock price was up 5.4% during mid-day trading on Friday . The stock traded as high as $24.82 and last traded at $24.59. Approximately 232,849 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 796,745 shares. The stock had previously closed at $23.34.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ARIS. US Capital Advisors downgraded Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Citigroup restated a "neutral" rating and issued a $26.00 target price (up previously from $18.00) on shares of Aris Water Solutions in a research report on Wednesday. Evercore ISI increased their price target on shares of Aris Water Solutions from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Aris Water Solutions from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their target price on shares of Aris Water Solutions from $21.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.17.
Read Our Latest Report on Aris Water Solutions
Aris Water Solutions Stock Performance
The company has a market capitalization of $1.44 billion, a P/E ratio of 30.81 and a beta of 1.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72. The business's fifty day simple moving average is $24.68 and its 200-day simple moving average is $19.14.
Aris Water Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.105 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.42 dividend on an annualized basis and a yield of 1.70%. Aris Water Solutions's payout ratio is 52.50%.
Insider Activity
In other news, Director Debra Coy sold 1,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.39, for a total transaction of $38,085.00. Following the transaction, the director now directly owns 42,082 shares in the company, valued at approximately $1,068,461.98. This trade represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder S Corp Gable sold 38,739 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total transaction of $969,637.17. Following the completion of the transaction, the insider now directly owns 3,111,738 shares of the company's stock, valued at $77,886,802.14. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 937,508 shares of company stock valued at $23,642,936. 23.06% of the stock is currently owned by company insiders.
Institutional Trading of Aris Water Solutions
Several hedge funds have recently modified their holdings of ARIS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aris Water Solutions during the second quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in Aris Water Solutions during the 3rd quarter worth approximately $39,000. New York State Teachers Retirement System increased its stake in Aris Water Solutions by 2,346.0% during the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company's stock valued at $41,000 after purchasing an additional 2,346 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Aris Water Solutions in the second quarter worth $82,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Aris Water Solutions during the third quarter worth $2,080,000. 39.71% of the stock is owned by hedge funds and other institutional investors.
Aris Water Solutions Company Profile
(
Get Free Report)
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.
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