Promethium Advisors LLC Acquires New Position in Aris Water Solutions, Inc. $ARIS

Key Points

• Promethium Advisors LLC has acquired a new position in Aris Water Solutions, purchasing 96,941 shares valued at approximately $3.1 million, making it the firm's 13th largest holding.
• Aris Water Solutions recently reported earnings of $0.19 per share, missing analyst estimates, though it exceeded revenue expectations with $124.09 million in revenue for the quarter.
• The company declared a quarterly dividend of $0.14 per share, with a yield of 2.3%, scheduled for payment on September 18th to shareholders of record.

Promethium Advisors LLC purchased a new position in shares of Aris Water Solutions, Inc. (NYSE:ARIS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 96,941 shares of the company's stock, valued at approximately $3,106,000. Aris Water Solutions accounts for approximately 2.0% of Promethium Advisors LLC's investment portfolio, making the stock its 13th largest position. Promethium Advisors LLC owned 0.17% of Aris Water Solutions as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in Aris Water Solutions during the fourth quarter worth about $27,000. Comerica Bank grew its holdings in Aris Water Solutions by 64.4% during the first quarter. Comerica Bank now owns 1,264 shares of the company's stock worth $41,000 after purchasing an additional 495 shares during the period. Harbour Investments Inc. grew its holdings in Aris Water Solutions by 478.2% during the first quarter. Harbour Investments Inc. now owns 1,538 shares of the company's stock worth $49,000 after purchasing an additional 1,272 shares during the period. CWM LLC grew its holdings in Aris Water Solutions by 303.4% during the first quarter. CWM LLC now owns 1,920 shares of the company's stock worth $62,000 after purchasing an additional 1,444 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Aris Water Solutions during the fourth quarter worth about $52,000. Institutional investors own 39.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ARIS. Capital One Financial cut Aris Water Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Zacks Research upgraded shares of Aris Water Solutions from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. Wells Fargo & Company set a $27.00 price objective on shares of Aris Water Solutions in a research report on Tuesday, August 19th. Evercore ISI cut their price objective on shares of Aris Water Solutions from $26.00 to $25.00 and set an "in-line" rating for the company in a research report on Monday, August 18th. Finally, Citigroup restated a "neutral" rating on shares of Aris Water Solutions in a research report on Monday, May 12th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.50.

Aris Water Solutions Price Performance

Shares of NYSE ARIS traded down $0.23 during midday trading on Friday, reaching $23.80. The company's stock had a trading volume of 920,236 shares, compared to its average volume of 1,348,367. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.73 and a current ratio of 1.73. Aris Water Solutions, Inc. has a fifty-two week low of $14.46 and a fifty-two week high of $33.95. The business's 50 day moving average price is $22.90 and its two-hundred day moving average price is $25.09. The company has a market cap of $1.41 billion, a P/E ratio of 28.67 and a beta of 1.68.

Aris Water Solutions (NYSE:ARIS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). Aris Water Solutions had a net margin of 6.00% and a return on equity of 3.77%. The business had revenue of $124.09 million during the quarter, compared to analyst estimates of $120.68 million. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. Aris Water Solutions's dividend payout ratio (DPR) is 67.47%.

Aris Water Solutions 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.