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

Aris Water Solutions, Inc. (NYSE:ARIS) hit a new 52-week high during trading on Tuesday . The company traded as high as $30.80 and last traded at $29.46, with a volume of 7283 shares trading hands. The stock had previously closed at $29.80.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ARIS shares. JPMorgan Chase & Co. cut shares of Aris Water Solutions from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, November 6th. Stifel Nicolaus raised their price objective on Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. 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 research note on Wednesday, January 8th. The Goldman Sachs Group raised their price target 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, Wells Fargo & Company boosted their price objective on Aris Water Solutions from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aris Water Solutions has an average rating of “Hold” and an average price target of $26.50.

Aris Water Solutions Stock Down 5.4 %

The company’s fifty day simple moving average is $25.66 and its 200 day simple moving average is $19.82. 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 firm has a market capitalization of $1.64 billion, a P/E ratio of 35.80 and a beta of 1.94.

Aris Water Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, December 5th. Aris Water Solutions’s payout ratio is currently 52.50%.

Insider Buying and Selling at Aris Water Solutions

In other Aris Water Solutions news, insider S Corp Gable sold 331,181 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $25.16, for a total transaction of $8,332,513.96. Following the completion of the transaction, the insider now owns 2,268,559 shares of the company’s stock, valued at approximately $57,076,944.44. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Debra Coy sold 1,500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.39, for a total transaction of $38,085.00. Following the completion of the transaction, the director now owns 42,082 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 937,508 shares of company stock valued at $23,642,936. 22.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aris Water Solutions

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its position in Aris Water Solutions by 277.0% during the 3rd quarter. Barclays PLC now owns 35,102 shares of the company’s stock valued at $592,000 after purchasing an additional 25,790 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Aris Water Solutions by 116.3% during the third quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock valued at $6,783,000 after buying an additional 216,158 shares during the last quarter. State Street Corp grew its holdings in shares of Aris Water Solutions by 13.8% during the third quarter. State Street Corp now owns 662,324 shares of the company’s stock valued at $11,173,000 after buying an additional 80,490 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Aris Water Solutions by 66.2% during the third quarter. HighTower Advisors LLC now owns 21,341 shares of the company’s stock valued at $361,000 after acquiring an additional 8,499 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in Aris Water Solutions in the 3rd quarter worth approximately $266,000. 39.71% of the stock is currently owned by institutional investors.

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.