Aris Water Solutions (NYSE:ARIS) Trading Up 4.4% - Here's What Happened

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report)'s share price was up 4.4% during mid-day trading on Monday . The company traded as high as $27.58 and last traded at $27.90. Approximately 595,217 shares were traded during trading, an increase of 23% from the average daily volume of 482,770 shares. The stock had previously closed at $26.73.

Wall Street Analysts Forecast Growth

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

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Aris Water Solutions Trading Down 2.8 %

The firm has a market capitalization of $1.74 billion, a P/E ratio of 37.14 and a beta of 1.88. The stock has a 50-day simple moving average of $27.38 and a two-hundred day simple moving average of $22.83. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions Increases Dividend

The firm also recently announced a quarterly 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 represents a $0.56 annualized dividend and a yield of 1.88%. This is a boost from Aris Water Solutions's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 13th. Aris Water Solutions's dividend payout ratio is presently 70.00%.

Insider Activity

In other news, major shareholder S Corp Gable sold 38,739 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total value of $969,637.17. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Delaware Energy Llc sold 3,223,670 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $25.81, for a total value of $83,202,922.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,159,678 shares of company stock worth $106,807,774. Corporate insiders own 23.06% of the company's stock.

Institutional Trading of Aris Water Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARIS. New York State Teachers Retirement System raised its stake in shares of Aris Water Solutions by 2,346.0% in the third quarter. New York State Teachers Retirement System now owns 2,446 shares of the company's stock worth $41,000 after purchasing an additional 2,346 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Aris Water Solutions during the 3rd quarter valued at about $514,000. Meeder Asset Management Inc. acquired a new position in shares of Aris Water Solutions in the 3rd quarter valued at about $39,000. Advisors Asset Management Inc. boosted its stake in shares of Aris Water Solutions by 53.0% in the third quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company's stock worth $355,000 after buying an additional 7,281 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Aris Water Solutions during the third quarter worth about $10,828,000. Institutional investors and hedge funds own 39.71% of the company's stock.

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.