Aris Water Solutions (NYSE:ARIS) Price Target Raised to $29.00 at Wells Fargo & Company

Aris Water Solutions (NYSE:ARIS) had its price target upped by Wells Fargo & Company from $26.00 to $29.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective 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. US Capital Advisors downgraded Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Citigroup reissued a “neutral” rating and issued a $26.00 price target (up previously from $18.00) on shares of Aris Water Solutions in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on shares of Aris Water Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI lowered shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and increased their target price for the company from $25.00 to $27.00 in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.00.

Aris Water Solutions Stock Up 1.9 %

ARIS stock opened at $31.56 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of 39.46 and a beta of 1.94. The firm’s 50-day simple moving average is $26.84 and its 200 day simple moving average is $22.14. Aris Water Solutions has a fifty-two week low of $10.56 and a fifty-two week high of $32.00. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.62.

Aris Water Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.14 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 1.77%. Aris Water Solutions’s payout ratio is 52.50%.

Insider Activity

In other news, major shareholder Delaware Energy Llc sold 3,223,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $25.81, for a total transaction of $83,202,922.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder S Corp Gable sold 38,739 shares of Aris Water Solutions stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total value of $969,637.17. Following the completion of the transaction, the insider now directly owns 3,111,738 shares in the company, valued at $77,886,802.14. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,159,678 shares of company stock worth $106,807,774. Corporate insiders own 22.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Aris Water Solutions in the 3rd quarter valued at approximately $2,080,000. New York State Teachers Retirement System raised its stake in Aris Water Solutions by 2,346.0% during the 3rd quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock valued at $41,000 after purchasing an additional 2,346 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Aris Water Solutions in the third quarter valued at $514,000. Meeder Asset Management Inc. acquired a new stake in shares of Aris Water Solutions in the third quarter worth $39,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Aris Water Solutions by 53.0% in the third quarter. Advisors Asset Management Inc. now owns 21,026 shares of the company’s stock worth $355,000 after buying an additional 7,281 shares during the period. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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.