Solaris Oilfield Infrastructure (NYSE:SOI) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Solaris Oilfield Infrastructure (NYSE:SOI) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Solaris Oilfield Infrastructure, Inc. manufactures and provides patented mobile proppant management systems which unload, store and deliver proppant at oil and natural gas well sites and its systems are deployed in many of the most active oil and natural gas basins in the United States, including the Permian Basin, the Eagle Ford Shale and the SCOOP/STACK formation. Solaris Oilfield Infrastructure, Inc. is based in Houston, United States. “

SOI has been the topic of several other research reports. Cowen reiterated a hold rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. TheStreet cut shares of Weibo from a b- rating to a c+ rating in a research note on Friday, May 31st. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, B. Riley set a $26.00 price target on shares of Abercrombie & Fitch and gave the stock a hold rating in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Solaris Oilfield Infrastructure currently has an average rating of Buy and a consensus price target of $20.19.

Shares of SOI stock opened at $14.33 on Tuesday. Solaris Oilfield Infrastructure has a 12-month low of $10.50 and a 12-month high of $19.31. The company has a quick ratio of 2.08, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $14.79. The stock has a market capitalization of $669.55 million, a PE ratio of 8.48 and a beta of 1.78.

Solaris Oilfield Infrastructure (NYSE:SOI) last issued its earnings results on Tuesday, April 30th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Solaris Oilfield Infrastructure had a net margin of 22.57% and a return on equity of 29.34%. The company had revenue of $55.12 million for the quarter, compared to analysts’ expectations of $54.31 million. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. On average, analysts predict that Solaris Oilfield Infrastructure will post 1.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, June 13th. Solaris Oilfield Infrastructure’s dividend payout ratio is presently 23.67%.

Hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd lifted its position in shares of Solaris Oilfield Infrastructure by 104.7% in the 2nd quarter. WINTON GROUP Ltd now owns 22,966 shares of the company’s stock worth $344,000 after purchasing an additional 11,746 shares during the period. FMR LLC purchased a new stake in shares of Solaris Oilfield Infrastructure in the 1st quarter worth approximately $36,498,000. Marshall Wace LLP raised its stake in shares of Solaris Oilfield Infrastructure by 162.5% during the 1st quarter. Marshall Wace LLP now owns 207,241 shares of the company’s stock worth $3,407,000 after acquiring an additional 128,281 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Solaris Oilfield Infrastructure during the 1st quarter worth approximately $724,000. Finally, Citigroup Inc. raised its stake in shares of Solaris Oilfield Infrastructure by 69.6% during the 1st quarter. Citigroup Inc. now owns 449,731 shares of the company’s stock worth $7,394,000 after acquiring an additional 184,636 shares in the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

About Solaris Oilfield Infrastructure

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.

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