Perigon Wealth Management LLC Acquires 13,167 Shares of Aris Water Solutions, Inc. (NYSE:ARIS)

Perigon Wealth Management LLC raised its holdings in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) by 98.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,527 shares of the company's stock after purchasing an additional 13,167 shares during the quarter. Perigon Wealth Management LLC's holdings in Aris Water Solutions were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Aris Water Solutions in the 4th quarter worth about $29,663,000. Whittier Trust Co. raised its holdings in shares of Aris Water Solutions by 70,079.1% in the 4th quarter. Whittier Trust Co. now owns 349,492 shares of the company's stock valued at $8,370,000 after acquiring an additional 348,994 shares in the last quarter. NBW Capital LLC grew its holdings in shares of Aris Water Solutions by 1,191.8% during the fourth quarter. NBW Capital LLC now owns 263,324 shares of the company's stock worth $6,307,000 after purchasing an additional 242,939 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Aris Water Solutions during the fourth quarter worth about $5,717,000. Finally, Horizon Kinetics Asset Management LLC bought a new position in shares of Aris Water Solutions in the fourth quarter worth approximately $5,492,000. Institutional investors own 39.71% of the company's stock.

Aris Water Solutions Stock Up 1.6%

Shares of NYSE ARIS traded up $0.38 on Wednesday, reaching $24.25. 359,659 shares of the company's stock traded hands, compared to its average volume of 635,404. The business's 50 day simple moving average is $24.13 and its two-hundred day simple moving average is $26.25. Aris Water Solutions, Inc. has a 12 month low of $13.34 and a 12 month high of $33.95. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 29.68 and a beta of 1.69. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.63.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Aris Water Solutions had a return on equity of 3.77% and a net margin of 6.15%. The business had revenue of $120.49 million during the quarter, compared to analysts' expectations of $115.72 million. As a group, equities research analysts forecast that Aris Water Solutions, Inc. will post 0.91 EPS for the current fiscal year.

Aris Water Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, June 5th. Aris Water Solutions's payout ratio is 68.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on ARIS shares. Wall Street Zen cut Aris Water Solutions from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Citigroup reissued a "neutral" rating on shares of Aris Water Solutions in a research note on Monday, May 12th. Wells Fargo & Company lowered their price objective on shares of Aris Water Solutions from $29.00 to $23.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their target price on Aris Water Solutions from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.00.

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.