Aris Water Solutions (NYSE:ARIS) Shares Up 9.3% After Dividend Announcement

Shares of Aris Water Solutions, Inc. (NYSE:ARIS) traded up 9.3% during trading on Wednesday after the company announced a dividend. The company traded as high as $17.27 and last traded at $17.05. 372,604 shares changed hands during trading, an increase of 25% from the average session volume of 297,880 shares. The stock had previously closed at $15.60.

The newly announced dividend which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, June 6th. Aris Water Solutions’s payout ratio is presently 60.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Aris Water Solutions from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Wells Fargo & Company boosted their price target on shares of Aris Water Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. TheStreet upgraded Aris Water Solutions from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, The Goldman Sachs Group upped their target price on shares of Aris Water Solutions from $14.50 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Aris Water Solutions Stock Performance

The company has a market cap of $985.61 million, a PE ratio of 28.43 and a beta of 1.65. The business has a fifty day moving average of $13.87 and a 200-day moving average of $10.36. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61.

Aris Water Solutions (NYSE:ARIS) last released its earnings results on Wednesday, February 28th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $104.13 million during the quarter, compared to analysts’ expectations of $97.65 million. Aris Water Solutions had a net margin of 4.82% and a return on equity of 4.06%. Equities research analysts anticipate that Aris Water Solutions, Inc. will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aris Water Solutions

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Aris Water Solutions by 221.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the company’s stock worth $55,000 after buying an additional 4,503 shares during the last quarter. Oxford Asset Management LLP bought a new position in shares of Aris Water Solutions in the 4th quarter valued at about $86,000. SG Americas Securities LLC purchased a new position in shares of Aris Water Solutions in the 3rd quarter worth approximately $122,000. Saxon Interests Inc. purchased a new position in shares of Aris Water Solutions during the 1st quarter worth about $142,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Aris Water Solutions during the third quarter valued at approximately $145,000. Hedge funds and other institutional investors 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.