Aris Water Solutions (NYSE:ARIS) Trading 5.4% Higher – Here’s What Happened

Shares of Aris Water Solutions, Inc. (NYSE:ARIS) traded up 5.4% during trading on Friday . The company traded as high as $24.82 and last traded at $24.59. 232,849 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 796,745 shares. The stock had previously closed at $23.34.

Analysts Set New Price Targets

ARIS has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and set a $26.00 price target (up previously from $18.00) on shares of Aris Water Solutions in a research report on Wednesday. Stifel Nicolaus boosted 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 report on Tuesday, December 17th. US Capital Advisors cut Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered Aris Water Solutions from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $22.00 in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aris Water Solutions has a consensus rating of “Moderate Buy” and an average target price of $26.17.

Aris Water Solutions Stock Up 5.6 %

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.44 billion, a P/E ratio of 30.81 and a beta of 1.94. The stock has a 50 day moving average price of $24.85 and a 200 day moving average price of $19.23.

Aris Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.105 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.42 annualized dividend and a yield of 1.70%. Aris Water Solutions’s dividend payout ratio is presently 52.50%.

Insider Transactions at Aris Water Solutions

In related news, major shareholder S Corp Gable sold 57,731 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.55, for a total value of $1,475,027.05. Following the completion of the sale, the insider now directly owns 3,165,939 shares in the company, valued at $80,889,741.45. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Debra Coy sold 1,500 shares of Aris Water Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.39, for a total value of $38,085.00. Following the transaction, the director now directly owns 42,082 shares in the company, valued at $1,068,461.98. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 937,508 shares of company stock worth $23,642,936. Insiders own 23.06% of the company’s stock.

Institutional Trading of Aris Water Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aris Water Solutions during the second quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in Aris Water Solutions during the third quarter valued at $39,000. New York State Teachers Retirement System grew its holdings in Aris Water Solutions by 2,346.0% during the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock worth $41,000 after acquiring an additional 2,346 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Aris Water Solutions in the 2nd quarter worth about $82,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Aris Water Solutions in the 3rd quarter valued at about $2,080,000. Institutional investors and hedge funds own 39.71% of the company’s stock.

Aris Water Solutions Company Profile

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.