Aris Water Solutions, Inc. (NYSE:ARIS) Stock Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Aris Water Solutions, Inc. (NYSE:ARIS) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 13,323 shares of the company’s stock after selling 1,005 shares during the quarter. Corebridge Financial Inc.’s holdings in Aris Water Solutions were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in shares of Aris Water Solutions in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in Aris Water Solutions in the 4th quarter worth approximately $33,000. Bridge City Capital LLC increased its position in Aris Water Solutions by 0.8% in the 4th quarter. Bridge City Capital LLC now owns 201,740 shares of the company’s stock valued at $4,832,000 after acquiring an additional 1,556 shares during the period. Janus Henderson Group PLC raised its stake in Aris Water Solutions by 7.0% during the 3rd quarter. Janus Henderson Group PLC now owns 40,596 shares of the company’s stock valued at $685,000 after acquiring an additional 2,663 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Aris Water Solutions by 10.4% during the 4th quarter. Principal Financial Group Inc. now owns 33,635 shares of the company’s stock worth $806,000 after acquiring an additional 3,179 shares during the period. 39.71% of the stock is owned by institutional investors and hedge funds.

Aris Water Solutions Stock Down 8.6 %

NYSE ARIS opened at $24.63 on Friday. Aris Water Solutions, Inc. has a 12 month low of $13.24 and a 12 month high of $33.95. The company has a market capitalization of $1.44 billion, a P/E ratio of 30.78 and a beta of 1.81. The company’s 50 day simple moving average is $28.75 and its 200 day simple moving average is $24.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.72 and a quick ratio of 1.72.

Aris Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.11. Aris Water Solutions’s dividend payout ratio is currently 70.00%.

Insider Activity

In other Aris Water Solutions news, insider Nicholas A. Patterson sold 8,299 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $30.60, for a total transaction of $253,949.40. Following the sale, the insider now owns 58,228 shares in the company, valued at approximately $1,781,776.80. The trade was a 12.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Yorktown Energy Partners Xi, L sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $27.70, for a total transaction of $27,700,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,070,604 shares of company stock worth $29,817,145. Insiders own 23.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARIS. Evercore ISI lowered Aris Water Solutions from an “outperform” rating to an “in-line” rating and raised their price target for the company from $25.00 to $27.00 in a report on Wednesday, January 15th. Citigroup restated a “neutral” rating and set a $26.00 price target (up from $18.00) on shares of Aris Water Solutions in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Aris Water Solutions from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. The Goldman Sachs Group boosted their target price on Aris Water Solutions from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered Aris Water Solutions from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.00.

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.