Aris Water Solutions, Inc. (NYSE:ARIS - Get Free Report) major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the firm'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 document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Aris Water Solutions Trading Up 8.4 %
Shares of NYSE ARIS opened at $31.95 on Thursday. The company's fifty day moving average is $28.03 and its 200-day moving average is $23.33. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 39.94 and a beta of 1.88. Aris Water Solutions, Inc. has a twelve month low of $12.44 and a twelve month high of $33.03. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.
Aris Water Solutions Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis 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%.
Institutional Investors Weigh In On Aris Water Solutions
Several institutional investors have recently added to or reduced their stakes in ARIS. Raymond James Financial Inc. bought a new stake in Aris Water Solutions in the 4th quarter valued at $29,663,000. Eagle Asset Management Inc. bought a new stake in Aris Water Solutions in the 3rd quarter valued at $10,828,000. Whittier Trust Co. increased its stake in Aris Water Solutions by 70,079.1% in the 4th quarter. Whittier Trust Co. now owns 349,492 shares of the company's stock valued at $8,370,000 after buying an additional 348,994 shares during the last quarter. NBW Capital LLC increased its stake in Aris Water Solutions by 1,191.8% in the 4th quarter. NBW Capital LLC now owns 263,324 shares of the company's stock valued at $6,307,000 after buying an additional 242,939 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Aris Water Solutions in the 4th quarter valued at $5,717,000. 39.71% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted 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 report on Friday, February 28th. Citigroup reaffirmed a "neutral" rating and set a $26.00 target price (up previously from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their target price on shares of Aris Water Solutions from $21.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Evercore ISI lowered shares of Aris Water Solutions from an "outperform" rating to an "in-line" rating and lifted their target price for the stock from $25.00 to $27.00 in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Aris Water Solutions currently has an average rating of "Hold" and a consensus target price of $27.00.
Check Out Our Latest Research Report on ARIS
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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