The Goldman Sachs Group Cuts Aris Water Solutions (NYSE:ARIS) Price Target to $30.00

Aris Water Solutions (NYSE:ARIS) had its price target decreased by The Goldman Sachs Group from $34.00 to $30.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Aris Water Solutions from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Wells Fargo & Company cut their price target on Aris Water Solutions from $29.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday. Citigroup reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. Finally, Evercore ISI cut Aris Water Solutions from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $25.00 to $27.00 in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.00.

Aris Water Solutions Stock Up 4.7 %

Shares of NYSE ARIS opened at $21.79 on Thursday. Aris Water Solutions has a 12-month low of $13.34 and a 12-month high of $33.95. The stock has a market cap of $1.27 billion, a P/E ratio of 27.24 and a beta of 1.85. 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 business’s fifty day simple moving average is $27.38 and its 200-day simple moving average is $26.09.

Aris Water Solutions (NYSE:ARIS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Aris Water Solutions had a return on equity of 3.74% and a net margin of 6.29%. The business had revenue of $120.49 million during the quarter, compared to analysts’ expectations of $115.72 million. As a group, equities analysts predict that Aris Water Solutions will post 0.91 EPS for the current fiscal year.

Aris Water Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.57%. Aris Water Solutions’s dividend payout ratio is presently 68.29%.

Insiders Place Their Bets

In related news, CAO Jeffrey K. Hunt sold 10,000 shares of the business’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 transaction, the chief accounting officer now owns 44,827 shares in the company, valued at $1,296,396.84. The trade was a 18.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 1,070,604 shares of company stock valued at $29,817,145 over the last quarter. Company insiders own 37.84% of the company’s stock.

Institutional Investors Weigh In On Aris Water Solutions

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Aris Water Solutions by 116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock worth $6,783,000 after buying an additional 216,158 shares during the last quarter. Barclays PLC lifted its position in Aris Water Solutions by 277.0% in the third quarter. Barclays PLC now owns 35,102 shares of the company’s stock valued at $592,000 after purchasing an additional 25,790 shares during the period. New York State Common Retirement Fund boosted its holdings in Aris Water Solutions by 6.1% in the 4th quarter. New York State Common Retirement Fund now owns 115,782 shares of the company’s stock valued at $2,773,000 after purchasing an additional 6,700 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Aris Water Solutions during the 4th quarter worth approximately $279,000. Finally, Principal Financial Group Inc. raised its stake in shares of Aris Water Solutions by 10.4% during the 4th quarter. Principal Financial Group Inc. now owns 33,635 shares of the company’s stock worth $806,000 after buying an additional 3,179 shares in the last quarter. Hedge funds and other institutional investors own 39.71% of the company’s stock.

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.