Aris Water Solutions (NYSE:ARIS) Shares Up 5.3% - Here's What Happened

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report)'s share price was up 5.3% on Wednesday . The stock traded as high as $25.96 and last traded at $25.89. Approximately 505,747 shares traded hands during trading, a decline of 9% from the average daily volume of 558,200 shares. The stock had previously closed at $24.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Aris Water Solutions from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Evercore ISI cut Aris Water Solutions from an "outperform" rating to an "in-line" rating and boosted their target price for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. Citigroup reiterated a "neutral" rating and set a $26.00 price objective (up previously from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. Finally, StockNews.com raised shares of Aris Water Solutions from a "sell" rating to a "hold" rating in a research report on Saturday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.00.

Aris Water Solutions Stock Down 7.7 %

The firm has a 50 day simple moving average of $28.42 and a 200-day simple moving average of $25.38. 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 market cap of $1.40 billion, a P/E ratio of 29.90 and a beta of 1.81.

Aris Water Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.14 dividend. This is a positive change from Aris Water Solutions's previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, March 13th. Aris Water Solutions's dividend payout ratio (DPR) is currently 70.00%.

Insider Activity at Aris Water Solutions

In other news, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.70, for a total value of $27,700,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey K. Hunt sold 10,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $28.92, for a total value of $289,200.00. Following the completion of the transaction, the chief accounting officer now owns 44,827 shares in the company, valued at $1,296,396.84. This represents a 18.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,070,604 shares of company stock valued at $29,817,145 in the last quarter. 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. Ameriprise Financial Inc. grew its holdings in shares of Aris Water Solutions by 3.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,723,172 shares of the company's stock valued at $65,218,000 after buying an additional 81,413 shares during the last quarter. Raymond James Financial Inc. bought a new position in Aris Water Solutions during the fourth quarter valued at approximately $29,663,000. Wellington Management Group LLP boosted its holdings in Aris Water Solutions by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 965,008 shares of the company's stock worth $23,112,000 after purchasing an additional 9,395 shares during the last quarter. State Street Corp grew its position in Aris Water Solutions by 13.8% in the 3rd quarter. State Street Corp now owns 662,324 shares of the company's stock worth $11,173,000 after purchasing an additional 80,490 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Aris Water Solutions by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 641,170 shares of the company's stock valued at $15,357,000 after buying an additional 8,844 shares during 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.