Aris Water Solutions (NYSE:ARIS) Trading 2.7% Higher – Here’s What Happened

Aris Water Solutions, Inc. (NYSE:ARIS) traded up 2.7% on Monday . The stock traded as high as $32.31 and last traded at $32.64. 55,825 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 528,665 shares. The stock had previously closed at $31.78.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARIS. 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. The Goldman Sachs Group upped their price target on Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and set a $26.00 price objective (up from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. Evercore ISI lowered shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their target price on shares of 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Aris Water Solutions has a consensus rating of “Hold” and an average target price of $27.00.

Aris Water Solutions Price Performance

The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 40.52 and a beta of 1.88. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average is $28.78 and its 200-day moving average is $24.21.

Aris Water Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Aris Water Solutions’s previous quarterly dividend of $0.11. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. Aris Water Solutions’s dividend payout ratio (DPR) is 70.00%.

Insider Buying and Selling

In related news, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.70, for a total transaction of $27,700,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey K. Hunt sold 10,000 shares of the 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 completion of the sale, the chief accounting officer now owns 44,827 shares of the company’s stock, valued at $1,296,396.84. This trade represents a 18.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,433,195 shares of company stock worth $38,936,166 in the last quarter. Insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On Aris Water Solutions

Several hedge funds have recently made changes to their positions in ARIS. Quarry LP bought a new stake in shares of Aris Water Solutions in the 4th quarter valued at about $27,000. Larson Financial Group LLC acquired a new stake in shares of Aris Water Solutions in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Aris Water Solutions in the 4th quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aris Water Solutions during the fourth quarter worth $52,000. Finally, Meeder Asset Management Inc. raised its position 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 valued at $97,000 after purchasing an additional 1,726 shares during the last quarter. 39.71% of the stock is owned by institutional investors.

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.