Solaris Oilfield Infrastructure, Inc. (NYSE:SOI – Get Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Investors of record on Tuesday, June 7th will be paid a dividend of 0.105 per share on Friday, June 17th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, June 6th.
Solaris Oilfield Infrastructure has increased its dividend payment by an average of 61.3% per year over the last three years. Solaris Oilfield Infrastructure has a dividend payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Solaris Oilfield Infrastructure to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 40.4%.
NYSE SOI opened at $12.12 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.38 and a debt-to-equity ratio of 0.24. Solaris Oilfield Infrastructure has a 52 week low of $6.11 and a 52 week high of $12.63. The stock has a market capitalization of $564.31 million, a PE ratio of 110.19 and a beta of 1.38. The firm has a 50 day moving average of $11.27 and a two-hundred day moving average of $8.89.
In related news, Director James R. Burke sold 6,243 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $12.18, for a total value of $76,039.74. Following the completion of the sale, the director now owns 22,087 shares in the company, valued at approximately $269,019.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William A. Zartler purchased 7,000 shares of Solaris Oilfield Infrastructure stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of $10.99 per share, with a total value of $76,930.00. Following the transaction, the chief executive officer now owns 551,175 shares in the company, valued at $6,057,413.25. The disclosure for this purchase can be found here. 30.59% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in Solaris Oilfield Infrastructure by 13.7% in the 4th quarter. Citadel Advisors LLC now owns 67,417 shares of the company’s stock valued at $441,000 after buying an additional 8,147 shares during the period. Invesco Ltd. increased its stake in Solaris Oilfield Infrastructure by 8.4% in the 3rd quarter. Invesco Ltd. now owns 38,122 shares of the company’s stock valued at $318,000 after buying an additional 2,952 shares during the period. Goldman Sachs Group Inc. increased its stake in Solaris Oilfield Infrastructure by 56.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 48,252 shares of the company’s stock valued at $316,000 after buying an additional 17,404 shares during the period. Millennium Management LLC acquired a new position in Solaris Oilfield Infrastructure in the 4th quarter valued at $311,000. Finally, Barclays PLC increased its stake in Solaris Oilfield Infrastructure by 186.3% in the 4th quarter. Barclays PLC now owns 37,963 shares of the company’s stock valued at $249,000 after buying an additional 24,701 shares during the period. 70.21% of the stock is currently owned by institutional investors.
Several research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Solaris Oilfield Infrastructure from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, March 7th. Zacks Investment Research upgraded shares of Solaris Oilfield Infrastructure from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective for the company in a research report on Saturday, February 26th. Finally, Cowen reduced their price objective on shares of Solaris Oilfield Infrastructure from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, February 23rd.
Solaris Oilfield Infrastructure Company Profile (Get Rating)
Solaris Oilfield Infrastructure, Inc designs, manufactures, and sells mobile equipment to unload, store, and deliver proppant, water, and chemicals at oil and natural gas well sites in the United States. It is involved in the transloading and storage of proppant or railcars at its transloading facility.
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