Sequoia Financial Advisors LLC Buys New Shares in Aris Water Solutions, Inc. (NYSE:ARIS)

Sequoia Financial Advisors LLC acquired a new position in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,120 shares of the company's stock, valued at approximately $266,000.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Aris Water Solutions by 116.3% during the third quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company's stock worth $6,783,000 after purchasing an additional 216,158 shares during the period. Barclays PLC increased its holdings in shares of Aris Water Solutions by 277.0% during the third quarter. Barclays PLC now owns 35,102 shares of the company's stock worth $592,000 after purchasing an additional 25,790 shares during the period. State Street Corp increased its holdings in shares of Aris Water Solutions by 13.8% during the third 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. HighTower Advisors LLC increased its holdings in shares of Aris Water Solutions by 66.2% during the third quarter. HighTower Advisors LLC now owns 21,341 shares of the company's stock worth $361,000 after purchasing an additional 8,499 shares during the period. Finally, Franklin Resources Inc. bought a new position in shares of Aris Water Solutions during the third quarter worth approximately $266,000. 39.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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 report on Thursday, December 19th. Stifel Nicolaus lifted their price objective on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price objective 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. US Capital Advisors cut shares of Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI cut shares of Aris Water Solutions from an "outperform" rating to an "in-line" rating and lifted their price objective for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Aris Water Solutions presently has an average rating of "Hold" and a consensus price target of $27.00.

Remove Ads

Aris Water Solutions Price Performance

Aris Water Solutions stock traded down $0.10 during mid-day trading on Friday, reaching $31.93. The company had a trading volume of 1,194,917 shares, compared to its average volume of 507,807. Aris Water Solutions, Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $32.72. 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 company has a market cap of $1.87 billion, a P/E ratio of 39.91 and a beta of 1.88. The business has a fifty day simple moving average of $28.35 and a 200 day simple moving average of $23.54.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Aris Water Solutions's previous quarterly dividend of $0.11. Aris Water Solutions's dividend payout ratio (DPR) is currently 70.00%.

Insider Buying and Selling at Aris Water Solutions

In other news, major shareholder S Corp Gable sold 160,539 shares of Aris Water Solutions stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $25.18, for a total transaction of $4,042,372.02. Following the transaction, the insider now owns 2,951,199 shares in the company, valued at approximately $74,311,190.82. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of Aris Water Solutions stock in a transaction on Monday, March 17th. The stock was sold at an average price of $27.70, for a total transaction of $27,700,000.00. The disclosure for this sale can be found here. Insiders have sold 1,910,142 shares of company stock worth $50,977,332 over the last quarter. Corporate insiders own 23.06% of the company's stock.

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.