Solaris Oilfield Infrastructure (NYSE:SOI) Stock Price Up 10.1%

Solaris Oilfield Infrastructure Inc (NYSE:SOI) shares rose 10.1% during mid-day trading on Wednesday . The stock traded as high as $11.71 and last traded at $11.57, approximately 661,700 shares were traded during trading. An increase of 39% from the average daily volume of 474,359 shares. The stock had previously closed at $10.51.

SOI has been the topic of several research analyst reports. Imperial Capital reduced their target price on Solaris Oilfield Infrastructure from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Zacks Investment Research cut Solaris Oilfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Citigroup set a $13.00 target price on Solaris Oilfield Infrastructure and gave the company a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Co reduced their target price on Solaris Oilfield Infrastructure from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. Finally, ValuEngine raised Solaris Oilfield Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $17.65.

The company has a debt-to-equity ratio of 0.19, a current ratio of 3.09 and a quick ratio of 2.88. The stock has a market capitalization of $510.52 million, a PE ratio of 6.85 and a beta of 1.68. The company has a 50 day moving average price of $11.16 and a 200-day moving average price of $13.30.

Solaris Oilfield Infrastructure (NYSE:SOI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). Solaris Oilfield Infrastructure had a net margin of 21.12% and a return on equity of 22.39%. The firm had revenue of $59.60 million for the quarter, compared to the consensus estimate of $58.94 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Solaris Oilfield Infrastructure Inc will post 1.48 earnings per share for the current year.

In other news, Director Edgar R. Jr. Giesinger purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Also, insider Cynthia M. Durrett sold 42,167 shares of Solaris Oilfield Infrastructure stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $14.67, for a total value of $618,589.89. Insiders own 14.18% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC boosted its position in shares of Solaris Oilfield Infrastructure by 4.2% during the second quarter. Chicago Equity Partners LLC now owns 23,225 shares of the company’s stock valued at $348,000 after purchasing an additional 930 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Solaris Oilfield Infrastructure by 6.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,969 shares of the company’s stock worth $254,000 after acquiring an additional 970 shares in the last quarter. CWM LLC boosted its holdings in Solaris Oilfield Infrastructure by 4.1% in the second quarter. CWM LLC now owns 24,656 shares of the company’s stock worth $369,000 after acquiring an additional 975 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Solaris Oilfield Infrastructure by 12.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,373 shares of the company’s stock worth $139,000 after acquiring an additional 1,114 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Solaris Oilfield Infrastructure by 2.4% in the third quarter. California State Teachers Retirement System now owns 48,460 shares of the company’s stock worth $650,000 after acquiring an additional 1,158 shares in the last quarter. Institutional investors own 67.26% of the company’s stock.

About Solaris Oilfield Infrastructure (NYSE:SOI)

Solaris Oilfield Infrastructure, Inc manufactures and rents mobile proppant and chemical management systems to unload, store, and deliver proppant and chemicals at oil and natural gas well sites in the United States. Its systems to transfer large quantities of proppant and chemicals to the well sites.

See Also: What are economic reports?

Receive News & Ratings for Solaris Oilfield Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaris Oilfield Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.