Aris Water Solutions (NYSE:ARIS) Hits New 12-Month High – Here’s What Happened

Aris Water Solutions, Inc. (NYSE:ARIS) shares reached a new 52-week high on Thursday . The stock traded as high as $32.72 and last traded at $32.06, with a volume of 376571 shares changing hands. The stock had previously closed at $31.85.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ARIS shares. Stifel Nicolaus boosted their target price 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. US Capital Advisors downgraded Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised their target price on Aris Water Solutions from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Citigroup reiterated a “neutral” rating and set a $26.00 price target (up previously from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group boosted their price objective on Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.00.

Aris Water Solutions Stock Down 0.3 %

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 has a market cap of $1.87 billion, a PE ratio of 39.91 and a beta of 1.88. The stock has a fifty day simple moving average of $28.35 and a two-hundred day simple moving average of $23.49.

Aris Water Solutions Increases Dividend

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

Insider Activity at Aris Water Solutions

In related news, major shareholder S Corp Gable sold 160,539 shares of Aris Water Solutions stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $25.18, for a total transaction of $4,042,372.02. Following the sale, the insider now directly owns 2,951,199 shares in the company, valued at $74,311,190.82. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brunt David Dylan Van sold 32,305 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $30.15, for a total value of $973,995.75. Following the completion of the sale, the chief operating officer now directly owns 85,656 shares in the company, valued at approximately $2,582,528.40. The trade was a 27.39 % decrease in their ownership of the stock. 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 90 days. 23.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aris Water Solutions

Several hedge funds have recently bought and sold shares of ARIS. Quarry LP purchased a new position in shares of Aris Water Solutions during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC bought a new position in Aris Water Solutions during the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in Aris Water Solutions during the 4th quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aris Water Solutions during the fourth quarter valued at $52,000. Finally, Meeder Asset Management Inc. boosted its holdings in Aris Water Solutions by 74.5% in the fourth quarter. Meeder Asset Management Inc. now owns 4,042 shares of the company’s stock worth $97,000 after acquiring an additional 1,726 shares in the last quarter. Institutional investors own 39.71% 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.