Aris Water Solutions (NYSE:ARIS) Price Target Cut to $13.00

Aris Water Solutions (NYSE:ARIS – Get Rating) had its price target trimmed by Citigroup from $20.00 to $13.00 in a report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

ARIS has been the subject of a number of other research reports. Barclays upped their price objective on shares of Aris Water Solutions from $15.00 to $16.00 and gave the company an equal weight rating in a research note on Wednesday, January 18th. Raymond James dropped their price objective on shares of Aris Water Solutions from $20.00 to $15.00 and set an outperform rating for the company in a research note on Monday, March 13th. Wells Fargo & Company decreased their target price on Aris Water Solutions from $17.00 to $13.00 and set an equal weight rating for the company in a report on Wednesday, March 8th. Finally, Evercore ISI decreased their target price on Aris Water Solutions from $24.00 to $20.00 and set an outperform rating for the company in a report on Wednesday, March 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $16.29.

Aris Water Solutions Trading Down 3.7 %

NYSE ARIS opened at $8.28 on Wednesday. Aris Water Solutions has a 12 month low of $8.13 and a 12 month high of $23.58. The company has a 50-day moving average of $13.81 and a 200-day moving average of $14.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $474.65 million, a P/E ratio of 414.00 and a beta of 2.04.

Aris Water Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Friday, March 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Thursday, March 16th. Aris Water Solutions’s payout ratio is currently 1,800.00%.

Hedge Funds Weigh In On Aris Water Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American International Group Inc. boosted its holdings in Aris Water Solutions by 6.7% in the 2nd quarter. American International Group Inc. now owns 10,306 shares of the company’s stock worth $172,000 after acquiring an additional 644 shares during the period. Legal & General Group Plc boosted its holdings in Aris Water Solutions by 39.8% in the 2nd quarter. Legal & General Group Plc now owns 2,430 shares of the company’s stock worth $41,000 after acquiring an additional 692 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Aris Water Solutions by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 60,580 shares of the company’s stock worth $873,000 after acquiring an additional 1,191 shares during the period. Truist Financial Corp boosted its holdings in Aris Water Solutions by 9.7% in the 4th quarter. Truist Financial Corp now owns 15,581 shares of the company’s stock worth $225,000 after acquiring an additional 1,382 shares during the period. Finally, Sei Investments Co. boosted its holdings in Aris Water Solutions by 6.7% in the 4th quarter. Sei Investments Co. now owns 22,537 shares of the company’s stock worth $325,000 after acquiring an additional 1,420 shares during the period. Hedge funds and other institutional investors own 39.50% of the company’s stock.

Aris Water Solutions Company Profile

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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.