Zacks Investment Research upgraded shares of Solaris Oilfield Infrastructure (NYSE:SOI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “Solaris Oilfield Infrastructure, Inc. manufactures and provides patented mobile proppant management systems which unload, store and deliver proppant at oil and natural gas well sites and its systems are deployed in many of the most active oil and natural gas basins in the United States, including the Permian Basin, the Eagle Ford Shale and the SCOOP/STACK formation. Solaris Oilfield Infrastructure, Inc. is based in Houston, United States. “
SOI has been the subject of a number of other research reports. TheStreet downgraded shares of Solaris Oilfield Infrastructure from a b- rating to a c rating in a research report on Friday, May 31st. B. Riley set a $23.00 target price on shares of Solaris Oilfield Infrastructure and gave the stock a buy rating in a research report on Wednesday, June 5th. Cowen reiterated an outperform rating and issued a $18.00 target price (down previously from $21.00) on shares of Solaris Oilfield Infrastructure in a research report on Thursday, August 1st. Capital One Financial initiated coverage on shares of Solaris Oilfield Infrastructure in a research report on Monday, September 16th. They issued an overweight rating and a $18.00 target price for the company. Finally, Wells Fargo & Co cut their target price on shares of Solaris Oilfield Infrastructure from $19.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Solaris Oilfield Infrastructure has a consensus rating of Buy and an average target price of $19.35.
Solaris Oilfield Infrastructure (NYSE:SOI) last released its earnings results on Tuesday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Solaris Oilfield Infrastructure had a return on equity of 25.82% and a net margin of 22.08%. The company had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $58.25 million. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, research analysts anticipate that Solaris Oilfield Infrastructure will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.94%. Solaris Oilfield Infrastructure’s dividend payout ratio is currently 23.67%.
In other news, insider Christopher M. Powell sold 29,418 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $13.36, for a total transaction of $393,024.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cynthia M. Durrett sold 42,167 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $14.67, for a total transaction of $618,589.89. Insiders have sold a total of 77,226 shares of company stock worth $1,087,486 in the last 90 days. 14.18% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SOI. Dimensional Fund Advisors LP raised its holdings in shares of Solaris Oilfield Infrastructure by 22.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 763,258 shares of the company’s stock valued at $9,228,000 after purchasing an additional 137,659 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Solaris Oilfield Infrastructure by 186,066.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,585 shares of the company’s stock worth $92,000 after acquiring an additional 5,582 shares during the period. Bank of Montreal Can raised its holdings in Solaris Oilfield Infrastructure by 36.6% in the 1st quarter. Bank of Montreal Can now owns 5,118 shares of the company’s stock worth $84,000 after acquiring an additional 1,371 shares during the period. Victory Capital Management Inc. raised its holdings in Solaris Oilfield Infrastructure by 38.8% in the 1st quarter. Victory Capital Management Inc. now owns 105,775 shares of the company’s stock worth $1,739,000 after acquiring an additional 29,567 shares during the period. Finally, Wasatch Advisors Inc. raised its holdings in Solaris Oilfield Infrastructure by 26.4% in the 1st quarter. Wasatch Advisors Inc. now owns 889,836 shares of the company’s stock worth $14,629,000 after acquiring an additional 185,622 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.
About Solaris Oilfield Infrastructure
Solaris Oilfield Infrastructure, Inc manufactures and rents mobile proppant and chemical management systems to unload, store, and deliver proppant and chemicals at oil and natural gas well sites in the United States. Its systems to transfer large quantities of proppant and chemicals to the well sites.
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