Insider Selling: Aris Water Solutions, Inc. (NYSE:ARIS) CAO Sells 10,000 Shares of Stock

Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report) CAO Jeffrey K. Hunt sold 10,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $28.92, for a total transaction of $289,200.00. Following the completion of the sale, the chief accounting officer now directly owns 44,827 shares in the company, valued at approximately $1,296,396.84. The trade was a 18.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Aris Water Solutions Stock Up 1.5 %

Shares of ARIS traded up $0.45 during mid-day trading on Tuesday, reaching $29.44. 1,188,422 shares of the stock traded hands, compared to its average volume of 496,050. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 36.80 and a beta of 1.88. The stock has a fifty day simple moving average of $27.75 and a 200 day simple moving average of $23.18. Aris Water Solutions, Inc. has a 12-month low of $12.44 and a 12-month high of $32.56. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.

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 1.90%. The ex-dividend date is Thursday, March 13th. This is an increase from Aris Water Solutions's previous quarterly dividend of $0.11. Aris Water Solutions's payout ratio is currently 70.00%.

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Hedge Funds Weigh In On Aris Water Solutions

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Aris Water Solutions in the fourth quarter worth $27,000. Larson Financial Group LLC acquired a new position in Aris Water Solutions in the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Aris Water Solutions in the fourth quarter worth $33,000. Meeder Asset Management Inc. acquired a new position in Aris Water Solutions in the third quarter worth $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aris Water Solutions during the fourth quarter valued at $52,000. Institutional investors and hedge funds own 39.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised 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. Stifel Nicolaus raised 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 raised their price target for the stock from $25.00 to $27.00 in a research note on Wednesday, January 15th. Citigroup reaffirmed a "neutral" rating and set a $26.00 price target (up from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their target price on shares of Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.00.

About Aris Water Solutions

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.