Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report) shares rose 2.7% during trading on Monday . The stock traded as high as $32.31 and last traded at $32.64. Approximately 55,825 shares changed hands during trading, a decline of 89% from the average daily volume of 528,665 shares. The stock had previously closed at $31.78.
Wall Street Analysts Forecast Growth
ARIS has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price target on Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of 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. Stifel Nicolaus lifted their price target 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. Evercore ISI cut shares of Aris Water Solutions from an "outperform" rating to an "in-line" rating and boosted their price objective for the company from $25.00 to $27.00 in a report on Wednesday, January 15th. Finally, 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 report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aris Water Solutions presently has a consensus rating of "Hold" and an average price target of $27.00.
Check Out Our Latest Stock Report on ARIS
Aris Water Solutions Stock Down 12.3 %
The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.48 billion, a P/E ratio of 31.60 and a beta of 1.88. The company's 50 day moving average price is $28.98 and its two-hundred day moving average price is $24.53.
Aris Water Solutions Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.14 per share. This is a boost from Aris Water Solutions's previous quarterly dividend of $0.11. This represents a $0.56 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, March 13th. Aris Water Solutions's dividend payout ratio is currently 70.00%.
Insider Transactions at Aris Water Solutions
In related news, insider S Corp Gable sold 331,181 shares of Aris Water Solutions stock in a transaction on Monday, January 6th. The stock was sold at an average price of $25.16, for a total transaction of $8,332,513.96. Following the transaction, the insider now directly owns 2,268,559 shares in the company, valued at approximately $57,076,944.44. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas A. Patterson sold 8,299 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total value of $253,949.40. Following the sale, the insider now directly owns 58,228 shares of the company's stock, valued at $1,781,776.80. This represents a 12.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,401,785 shares of company stock worth $38,149,659 in the last 90 days. 23.06% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Aris Water Solutions
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Aris Water Solutions in the fourth quarter worth $29,663,000. Whittier Trust Co. increased its stake in Aris Water Solutions by 70,079.1% in the 4th quarter. Whittier Trust Co. now owns 349,492 shares of the company's stock worth $8,370,000 after buying an additional 348,994 shares in the last quarter. NBW Capital LLC raised its holdings in Aris Water Solutions by 1,191.8% during the fourth quarter. NBW Capital LLC now owns 263,324 shares of the company's stock valued at $6,307,000 after acquiring an additional 242,939 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Aris Water Solutions in the fourth quarter valued at about $5,717,000. Finally, Horizon Kinetics Asset Management LLC bought a new position in shares of Aris Water Solutions in the fourth quarter worth about $5,492,000. Institutional investors own 39.71% of the company's stock.
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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