Aris Water Solutions (NYSE:ARIS) Trading Down 6.5% – Here’s What Happened

Aris Water Solutions, Inc. (NYSE:ARIS)’s share price dropped 6.5% on Friday . The company traded as low as $26.37 and last traded at $25.95. Approximately 245,746 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,034,032 shares. The stock had previously closed at $27.75.

Analyst Upgrades and Downgrades

ARIS has been the topic of a number of research reports. US Capital Advisors lowered Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered Aris Water Solutions from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $22.00 in a research report on Wednesday, November 6th. Wells Fargo & Company increased their price target on Aris Water Solutions from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Citigroup restated a “neutral” rating and issued a $26.00 price objective (up from $18.00) on shares of Aris Water Solutions in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upped 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Aris Water Solutions has a consensus rating of “Hold” and an average price target of $26.50.

Aris Water Solutions Price Performance

The company has a 50-day moving average of $26.15 and a 200-day moving average of $20.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 31.38 and a beta of 1.94.

Aris Water Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, December 5th. Aris Water Solutions’s dividend payout ratio is presently 52.50%.

Insiders Place Their Bets

In other Aris Water Solutions news, major shareholder S Corp Gable sold 38,739 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $25.03, for a total transaction of $969,637.17. Following the completion of the sale, the insider now owns 3,111,738 shares in the company, valued at $77,886,802.14. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Debra Coy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.39, for a total transaction of $38,085.00. Following the sale, the director now directly owns 42,082 shares of the company’s stock, valued at $1,068,461.98. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,161,178 shares of company stock worth $106,845,859. 23.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aris Water Solutions

A number of hedge funds have recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new stake in shares of Aris Water Solutions during the 3rd quarter valued at approximately $10,828,000. JPMorgan Chase & Co. increased its stake in Aris Water Solutions by 116.3% during the third quarter. JPMorgan Chase & Co. now owns 402,093 shares of the company’s stock valued at $6,783,000 after purchasing an additional 216,158 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Aris Water Solutions by 32.8% during the second quarter. Dimensional Fund Advisors LP now owns 563,976 shares of the company’s stock worth $8,836,000 after purchasing an additional 139,259 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Aris Water Solutions by 988.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 137,951 shares of the company’s stock valued at $2,327,000 after buying an additional 125,281 shares during the period. Finally, State Street Corp boosted its holdings in shares of Aris Water Solutions by 13.8% in 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 during the period. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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.