Solaris Oilfield Infrastructure Inc (SOI) to Issue $0.10 Quarterly Dividend

Solaris Oilfield Infrastructure Inc (NYSE:SOI) declared a quarterly dividend on Thursday, March 14th, Wall Street Journal reports. Investors of record on Friday, March 22nd will be paid a dividend of 0.10 per share on Friday, March 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, March 21st.

Solaris Oilfield Infrastructure has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Solaris Oilfield Infrastructure to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.9%.

Shares of Solaris Oilfield Infrastructure stock opened at $16.53 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.29 and a quick ratio of 1.99. Solaris Oilfield Infrastructure has a 1 year low of $10.50 and a 1 year high of $20.18. The firm has a market cap of $762.56 million, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.21 and a beta of 1.86.

Solaris Oilfield Infrastructure (NYSE:SOI) last released its quarterly earnings data on Wednesday, February 27th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Solaris Oilfield Infrastructure had a net margin of 21.52% and a return on equity of 28.87%. The company had revenue of $57.34 million during the quarter, compared to analysts’ expectations of $53.47 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 127.5% on a year-over-year basis. As a group, equities analysts anticipate that Solaris Oilfield Infrastructure will post 1.93 earnings per share for the current fiscal year.

In other Solaris Oilfield Infrastructure news, Director James R. Burke sold 8,809 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $16.76, for a total value of $147,638.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Yorktown Energy Partners X, L. sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $15.58, for a total transaction of $31,160,000.00. The disclosure for this sale can be found here. Insiders own 14.44% of the company’s stock.

An institutional investor recently raised its position in Solaris Oilfield Infrastructure stock. Geode Capital Management LLC raised its position in Solaris Oilfield Infrastructure Inc (NYSE:SOI) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,376 shares of the company’s stock after purchasing an additional 37,383 shares during the quarter. Geode Capital Management LLC owned about 0.59% of Solaris Oilfield Infrastructure worth $3,377,000 as of its most recent SEC filing. 85.44% of the stock is owned by institutional investors.

A number of research analysts have weighed in on SOI shares. Imperial Capital cut their price objective on shares of Solaris Oilfield Infrastructure from $24.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, December 28th. Zacks Investment Research raised shares of Solaris Oilfield Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 1st. Piper Jaffray Companies reissued a “buy” rating and set a $17.50 target price on shares of Solaris Oilfield Infrastructure in a research note on Thursday, January 3rd. Cowen began coverage on shares of Solaris Oilfield Infrastructure in a research note on Thursday, January 24th. They set an “outperform” rating and a $20.00 target price for the company. Finally, ValuEngine raised shares of Solaris Oilfield Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $19.94.

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Solaris Oilfield Infrastructure Company Profile

Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.

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