Aris Water Solutions (NYSE:ARIS) Sets New 12-Month High – Here’s What Happened

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

Analysts Set New Price Targets

ARIS has been the subject of a number of research analyst reports. Citigroup reissued a “neutral” rating and issued 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 price objective on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI cut shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their target price for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. Stifel Nicolaus lifted their price target on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price objective on shares of Aris Water Solutions from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Aris Water Solutions currently has an average rating of “Hold” and an average target price of $27.00.

Aris Water Solutions Stock Up 1.4 %

The company’s 50-day moving average price is $28.74 and its 200 day moving average price is $23.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market cap of $1.93 billion, a PE ratio of 41.37 and a beta of 1.88.

Aris Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Aris Water Solutions’s previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 1.69%. Aris Water Solutions’s dividend payout ratio (DPR) is presently 70.00%.

Insider Transactions at Aris Water Solutions

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of the firm’s 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 sale, the insider now owns 58,228 shares in the company, valued at approximately $1,781,776.80. This trade represents a 12.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider S Corp Gable sold 31,410 shares of the company’s stock in a transaction that occurred 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 owns 2,599,740 shares of the company’s stock, valued at approximately $65,097,489.60. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,433,195 shares of company stock worth $38,936,166 in the last 90 days. 22.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARIS. Quarry LP bought a new stake in Aris Water Solutions during the fourth quarter valued at about $27,000. Larson Financial Group LLC purchased a new stake in shares of Aris Water Solutions during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. bought a new stake in Aris Water Solutions during the 4th quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aris Water Solutions in the 4th quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. boosted its stake in 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 purchasing an additional 1,726 shares during the period. Hedge funds and other 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.