Aris Water Solutions (NYSE:ARIS) Price Target Raised to $30.00

Aris Water Solutions (NYSE:ARIS) had its target price hoisted by The Goldman Sachs Group from $21.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on ARIS. Wells Fargo & Company upped their price target on Aris Water Solutions from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded Aris Water Solutions from an “overweight” rating to a “neutral” rating and increased their target price for the company from $19.00 to $22.00 in a research note on Wednesday, November 6th. Evercore ISI upped their price target on Aris Water Solutions from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price objective on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, US Capital Advisors lowered shares of Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.83.

Aris Water Solutions Stock Performance

ARIS stock opened at $24.10 on Thursday. The firm has a 50 day moving average of $22.32 and a two-hundred day moving average of $18.19. Aris Water Solutions has a 12 month low of $7.74 and a 12 month high of $27.94. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 30.13 and a beta of 1.91. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.42 annualized dividend and a dividend yield of 1.74%. Aris Water Solutions’s dividend payout ratio (DPR) is presently 52.50%.

Insider Activity at Aris Water Solutions

In related news, Director Debra Coy sold 1,500 shares of Aris Water Solutions stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.39, for a total transaction of $38,085.00. Following the completion of the transaction, the director now directly owns 42,082 shares of the company’s stock, valued at $1,068,461.98. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder S Corp Gable sold 38,739 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $25.03, for a total transaction of $969,637.17. Following the completion of the transaction, the insider now owns 3,111,738 shares in the company, valued at approximately $77,886,802.14. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,970 shares of company stock valued at $2,482,749 in the last 90 days. 23.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aris Water Solutions in the second quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Aris Water Solutions in the 3rd quarter valued at $39,000. New York State Teachers Retirement System raised its position in shares of Aris Water Solutions by 2,346.0% during the third quarter. New York State Teachers Retirement System now owns 2,446 shares of the company’s stock worth $41,000 after acquiring an additional 2,346 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Aris Water Solutions during the second quarter valued at $46,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Aris Water Solutions during the second quarter valued at $82,000. 39.71% of the stock is owned by institutional investors.

About Aris Water Solutions

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.