Aris Water Solutions (NYSE:ARIS) Reaches New 1-Year High Following Dividend Announcement

Shares of Aris Water Solutions, Inc. (NYSE:ARIS) hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $31.19 and last traded at $29.80, with a volume of 170434 shares. The stock had previously closed at $25.66.

The newly announced dividend which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s payout ratio is 52.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and set a $26.00 price target (up previously from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. US Capital Advisors lowered shares of Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered shares of Aris Water Solutions from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, November 6th. Wells Fargo & Company raised 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 note on Friday. Finally, The Goldman Sachs Group raised their price objective on shares of Aris Water Solutions from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

Aris Water Solutions Stock Performance

The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 39.46 and a beta of 1.94. The company’s 50-day simple moving average is $26.84 and its 200-day simple moving average is $22.14.

Insiders Place Their Bets

In other Aris Water Solutions news, major shareholder Delaware Energy Llc sold 3,223,670 shares of Aris Water Solutions stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $25.81, for a total value of $83,202,922.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider S Corp Gable sold 331,181 shares of the firm’s stock in a transaction that occurred 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 directly owns 2,268,559 shares of the company’s stock, valued at $57,076,944.44. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,159,678 shares of company stock worth $106,807,774. 22.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARIS. International Assets Investment Management LLC acquired a new position in Aris Water Solutions in the 3rd quarter worth approximately $2,080,000. New York State Teachers Retirement System boosted its stake in Aris Water Solutions by 2,346.0% in the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock worth $41,000 after purchasing an additional 2,346 shares during the period. Principal Financial Group Inc. acquired a new position in Aris Water Solutions in the 3rd quarter worth approximately $514,000. Meeder Asset Management Inc. acquired a new position in Aris Water Solutions in the 3rd quarter worth approximately $39,000. Finally, Advisors Asset Management Inc. boosted its stake in Aris Water Solutions by 53.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company’s stock worth $355,000 after purchasing an additional 7,281 shares during the period. Institutional investors and hedge funds 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.