Aris Water Solutions (NYSE:ARIS) Hits New 52-Week High – Time to Buy?

Aris Water Solutions, Inc. (NYSE:ARIS) shares hit a new 52-week high on Wednesday . The stock traded as high as $33.91 and last traded at $33.25, with a volume of 1063739 shares. The stock had previously closed at $32.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Aris Water Solutions from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Evercore ISI cut shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price target for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. Citigroup reiterated a “neutral” rating and issued a $26.00 price objective (up from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. The Goldman Sachs Group increased their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, US Capital Advisors cut Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Aris Water Solutions Stock Performance

The company’s fifty day simple moving average is $28.57 and its 200 day simple moving average is $23.84. The stock has a market capitalization of $1.94 billion, a P/E ratio of 41.56 and a beta of 1.88. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.14 per share. This is a positive change from Aris Water Solutions’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.56 annualized dividend and a yield of 1.68%. Aris Water Solutions’s dividend payout ratio (DPR) is currently 70.00%.

Insider Buying and Selling

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of Aris Water Solutions stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $30.60, for a total transaction of $253,949.40. Following the completion of the sale, the insider now directly owns 58,228 shares in the company, valued at $1,781,776.80. The trade was a 12.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider S Corp Gable sold 31,410 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $25.04, for a total transaction of $786,506.40. Following the completion of the transaction, the insider now directly owns 2,599,740 shares in the company, valued at $65,097,489.60. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,749,603 shares of company stock worth $46,934,960 over the last ninety days. 23.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aris Water Solutions

Several hedge funds have recently added to or reduced their stakes in ARIS. Quarry LP bought a new position in shares of Aris Water Solutions during the 4th quarter valued at about $27,000. Larson Financial Group LLC bought a new position in Aris Water Solutions during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in Aris Water Solutions during the fourth quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aris Water Solutions during the fourth quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Aris Water Solutions by 74.5% in the 4th 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 during 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.