Aris Water Solutions, Inc. (NYSE:ARIS) Sees Large Drop in Short Interest

Aris Water Solutions, Inc. (NYSE:ARIS) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, a decrease of 17.1% from the February 13th total of 1,990,000 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily volume of 799,400 shares, the short-interest ratio is presently 2.1 days.

Aris Water Solutions Stock Up 8.4 %

Shares of NYSE ARIS traded up $2.48 during mid-day trading on Wednesday, reaching $31.95. 1,247,421 shares of the company’s stock traded hands, compared to its average volume of 499,230. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. Aris Water Solutions has a 1-year low of $12.44 and a 1-year high of $32.56. The stock has a market cap of $1.87 billion, a P/E ratio of 39.94 and a beta of 1.88. The business has a 50-day simple moving average of $27.87 and a 200 day simple moving average of $23.27.

Aris Water Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, March 13th. Aris Water Solutions’s payout ratio is presently 70.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reiterated 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. Wells Fargo & Company lifted their price target on shares of Aris Water Solutions from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Evercore ISI downgraded shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $25.00 to $27.00 in a report on Wednesday, January 15th. The Goldman Sachs Group upped their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus lifted their target price on shares of Aris Water Solutions from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Aris Water Solutions presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Insider Buying and Selling

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total value of $253,949.40. Following the sale, the insider now owns 58,228 shares in the company, valued at $1,781,776.80. This represents a 12.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider S Corp Gable sold 31,410 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $25.04, for a total transaction of $786,506.40. Following the completion of the transaction, the insider now owns 2,599,740 shares in the company, valued at approximately $65,097,489.60. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 910,142 shares of company stock valued at $23,277,332. Company insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in shares of Aris Water Solutions by 3.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,723,172 shares of the company’s stock worth $65,218,000 after acquiring an additional 81,413 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Aris Water Solutions during the 4th quarter worth about $29,663,000. Wellington Management Group LLP boosted its stake in Aris Water Solutions by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 965,008 shares of the company’s stock worth $23,112,000 after purchasing an additional 9,395 shares during the period. State Street Corp grew its holdings in Aris Water Solutions by 13.8% during the 3rd quarter. State Street Corp now owns 662,324 shares of the company’s stock valued at $11,173,000 after buying an additional 80,490 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Aris Water Solutions in the third quarter valued at approximately $10,828,000. 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.