Aris Water Solutions (NYSE:ARIS - Free Report) had its price objective boosted by Stifel Nicolaus from $26.00 to $28.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.
A number of other brokerages have also commented on ARIS. JPMorgan Chase & Co. lowered shares of Aris Water Solutions from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $19.00 to $22.00 in a research report on Wednesday, November 6th. US Capital Advisors downgraded shares of Aris Water Solutions from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on Aris Water Solutions from $18.50 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on Aris Water Solutions from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.83.
Get Our Latest Stock Analysis on Aris Water Solutions
Aris Water Solutions Trading Down 1.1 %
NYSE:ARIS traded down $0.28 during midday trading on Tuesday, hitting $24.79. 443,817 shares of the company traded hands, compared to its average volume of 363,913. Aris Water Solutions has a 12-month low of $7.74 and a 12-month high of $27.94. 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 firm's fifty day moving average is $21.92 and its 200-day moving average is $18.05. The firm has a market capitalization of $1.44 billion, a P/E ratio of 30.99 and a beta of 1.91.
Aris Water Solutions Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.42 dividend on an annualized basis and a yield of 1.69%. Aris Water Solutions's dividend payout ratio is currently 52.50%.
Insiders Place Their Bets
In related news, Director Debra Coy sold 1,500 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.39, for a total transaction of $38,085.00. Following the sale, the director now owns 42,082 shares in the company, valued at approximately $1,068,461.98. This trade represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.06% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Aris Water Solutions
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aris Water Solutions in the second quarter valued at $27,000. Meeder Asset Management Inc. purchased a new position in Aris Water Solutions during the third quarter worth about $39,000. New York State Teachers Retirement System raised its holdings in shares of Aris Water Solutions by 2,346.0% in the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company's stock valued at $41,000 after buying an additional 2,346 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Aris Water Solutions during the second quarter worth about $46,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Aris Water Solutions during the second quarter worth $82,000. Institutional investors and hedge funds own 39.71% of the company's stock.
Aris Water Solutions Company Profile
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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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