Aris Water Solutions (NYSE:ARIS) Price Target Raised to $29.00

Aris Water Solutions (NYSE:ARIS) had its price target boosted by investment analysts at Wells Fargo & Company from $26.00 to $29.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 5.92% from the stock’s previous close.

Other equities research analysts have also recently issued 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 note on Thursday, December 19th. JPMorgan Chase & Co. lowered Aris Water Solutions from an “overweight” rating to a “neutral” rating and increased their price target for the company from $19.00 to $22.00 in a report on Wednesday, November 6th. Stifel Nicolaus raised their price target on Aris Water Solutions from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Evercore ISI cut shares of Aris Water Solutions from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $25.00 to $27.00 in a research report on Wednesday, January 15th. Finally, US Capital Advisors lowered shares of Aris Water Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Aris Water Solutions presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Aris Water Solutions Price Performance

Shares of NYSE ARIS traded down $0.16 during midday trading on Friday, reaching $30.82. 304,422 shares of the stock traded hands, compared to its average volume of 909,922. The company’s 50 day moving average is $26.69 and its 200 day moving average is $22.02. Aris Water Solutions has a one year low of $10.56 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market capitalization of $1.79 billion, a PE ratio of 38.36 and a beta of 1.94.

Insider Buying and Selling

In related news, insider S Corp Gable sold 331,181 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.16, for a total value of $8,332,513.96. Following the transaction, the insider now owns 2,268,559 shares of the company’s stock, valued at $57,076,944.44. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Delaware Energy Llc sold 3,223,670 shares of Aris Water Solutions stock in a transaction on Friday, December 13th. The shares were sold at an average price of $25.81, for a total value of $83,202,922.70. The disclosure for this sale can be found here. Insiders have sold 4,159,678 shares of company stock valued at $106,807,774 in the last 90 days. Company insiders own 22.46% of the company’s stock.

Institutional Trading of Aris Water Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in shares of Aris Water Solutions by 3.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,723,172 shares of the company’s stock valued at $65,218,000 after purchasing an additional 81,413 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Aris Water Solutions during the fourth quarter valued at approximately $29,663,000. Wellington Management Group LLP raised its stake in Aris Water Solutions by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 965,008 shares of the company’s stock worth $23,112,000 after buying an additional 9,395 shares in the last quarter. State Street Corp lifted its holdings in Aris Water Solutions by 13.8% during the third quarter. State Street Corp now owns 662,324 shares of the company’s stock worth $11,173,000 after buying an additional 80,490 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Aris Water Solutions in the 3rd quarter valued at $10,828,000. 39.71% of the stock is owned by hedge funds and other institutional investors.

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.