Aris Water Solutions (NYSE:ARIS) Shares Up 4.4% – Here’s What Happened

Aris Water Solutions, Inc. (NYSE:ARIS) was up 4.4% on Monday . The stock traded as high as $27.58 and last traded at $27.90. Approximately 595,217 shares changed hands during trading, an increase of 23% from the average daily volume of 482,770 shares. The stock had previously closed at $26.73.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARIS shares. 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. Stifel Nicolaus increased their target price on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on shares of Aris Water Solutions from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Citigroup reissued 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Aris Water Solutions currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Aris Water Solutions Trading Up 5.1 %

The company has a 50 day moving average of $27.24 and a two-hundred day moving average of $22.73. The stock has a market capitalization of $1.63 billion, a PE ratio of 35.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72.

Aris Water Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 1.99%. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s payout ratio is currently 70.00%.

Insiders Place Their Bets

In related news, major shareholder Delaware Energy Llc sold 3,223,670 shares of Aris Water Solutions stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $25.81, for a total value of $83,202,922.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider S Corp Gable sold 331,181 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.16, for a total value of $8,332,513.96. Following the sale, the insider now owns 2,268,559 shares of the company’s stock, valued at $57,076,944.44. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,159,678 shares of company stock valued at $106,807,774. 23.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System boosted its stake in Aris Water Solutions by 2,346.0% during the third quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock worth $41,000 after buying an additional 2,346 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Aris Water Solutions during the 3rd quarter worth $514,000. Meeder Asset Management Inc. acquired a new position in shares of Aris Water Solutions during the 3rd quarter valued at about $39,000. Advisors Asset Management Inc. grew its holdings in shares of Aris Water Solutions by 53.0% in the third quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company’s stock valued at $355,000 after purchasing an additional 7,281 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in Aris Water Solutions during the third quarter worth about $10,828,000. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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.