Aris Water Solutions (NYSE:ARIS) Sets New 52-Week High Following Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS)’s stock price reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $20.49 and last traded at $20.33, with a volume of 152357 shares trading hands. The stock had previously closed at $16.56.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, December 5th. Aris Water Solutions’s payout ratio is currently 56.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARIS. US Capital Advisors upgraded Aris Water Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. The Goldman Sachs Group increased their target price on shares of Aris Water Solutions from $18.50 to $21.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of Aris Water Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. downgraded Aris Water Solutions from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $19.00 to $22.00 in a research note on Wednesday. Finally, Evercore ISI increased their price target on Aris Water Solutions from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Aris Water Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Aris Water Solutions Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a fifty day moving average price of $16.66 and a two-hundred day moving average price of $15.93. The company has a market cap of $1.29 billion, a P/E ratio of 29.56 and a beta of 1.62.

Aris Water Solutions (NYSE:ARIS) last announced its earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Aris Water Solutions had a return on equity of 3.51% and a net margin of 5.97%. The firm had revenue of $101.12 million for the quarter, compared to the consensus estimate of $97.86 million. On average, equities analysts forecast that Aris Water Solutions, Inc. will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Brunt David Dylan Van sold 14,813 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $14.84, for a total value of $219,824.92. Following the completion of the sale, the chief operating officer now owns 94,690 shares of the company’s stock, valued at $1,405,199.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 22.46% of the company’s stock.

Institutional Investors Weigh In On Aris Water Solutions

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Aris Water Solutions during the 3rd quarter valued at $514,000. 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 valued at $41,000 after buying an additional 2,346 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Aris Water Solutions during the third quarter worth about $2,080,000. Exchange Traded Concepts LLC raised its position in Aris Water Solutions by 988.8% in the third quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock worth $2,327,000 after acquiring an additional 125,281 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Aris Water Solutions by 11.0% in the third quarter. Inspire Investing LLC now owns 24,518 shares of the company’s stock worth $414,000 after acquiring an additional 2,434 shares in the last quarter. 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.