Aris Water Solutions (NYSE:ARIS) Shares Up 6.9% – Here’s Why

Aris Water Solutions, Inc. (NYSE:ARIS) shares were up 6.9% during trading on Tuesday . The company traded as high as $24.16 and last traded at $24.43. Approximately 333,153 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 887,502 shares. The stock had previously closed at $22.85.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARIS shares. The Goldman Sachs Group decreased their price target on Aris Water Solutions from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Citigroup restated a “neutral” rating on shares of Aris Water Solutions in a research report on Monday, May 12th. Wells Fargo & Company reduced their target price on shares of Aris Water Solutions from $29.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Finally, StockNews.com downgraded shares of Aris Water Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Aris Water Solutions currently has an average rating of “Hold” and a consensus price target of $26.00.

Aris Water Solutions Stock Up 6.3%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market cap of $1.44 billion, a P/E ratio of 29.83 and a beta of 1.85. The stock’s fifty day simple moving average is $26.78 and its 200-day simple moving average is $26.48.

Aris Water Solutions (NYSE:ARIS) last released its earnings results on Tuesday, May 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Aris Water Solutions had a net margin of 6.29% and a return on equity of 3.74%. The firm had revenue of $120.49 million for the quarter, compared to analyst estimates of $115.72 million. As a group, research analysts forecast that Aris Water Solutions, Inc. will post 0.91 earnings per share for the current fiscal year.

Aris Water Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. Aris Water Solutions’s dividend payout ratio is currently 68.29%.

Insiders Place Their Bets

In other news, insider Nicholas A. Patterson sold 8,299 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total transaction of $253,949.40. Following the transaction, the insider now directly owns 58,228 shares of the company’s stock, valued at $1,781,776.80. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the company’s 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 1,070,604 shares of company stock valued at $29,817,145 in the last ninety days. 37.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its holdings in Aris Water Solutions by 64.4% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $41,000 after acquiring an additional 495 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Aris Water Solutions by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,246 shares of the company’s stock valued at $365,000 after purchasing an additional 557 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Aris Water Solutions by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 79,589 shares of the company’s stock worth $2,550,000 after purchasing an additional 642 shares during the period. Quarry LP purchased a new position in shares of Aris Water Solutions in the 4th quarter worth about $27,000. Finally, Larson Financial Group LLC purchased a new position in shares of Aris Water Solutions in the 4th quarter worth about $28,000. 39.71% of the stock is owned by hedge funds and other 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.