Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) Brief Update on Interests
Solaris Oilfield Infrastructure, Inc. (NYSE: SOI – Get Rating) benefited from significant growth in short-term interest during the month of June. As of June 15, there was short interest totaling 898,200 shares, up 60.5% from the May 31 total of 559,500 shares. Based on an average trading volume of 330,700 shares, the short interest ratio is currently 2.7 days. Approximately 3.2% of the company’s shares are sold short.
NYSE SOI traded down $0.15 on Friday, hitting $11.03. The stock recorded trading volume of 138,311 shares, compared to an average trading volume of 314,175 shares. The company has a market capitalization of $513.60 million, a price-earnings ratio of 98.92 and a beta of 1.37. The company has a quick ratio of 2.32, a current ratio of 2.38 and a leverage ratio of 0.24. Solaris Oilfield Infrastructure has a 12-month low of $6.11 and a 12-month high of $14.61. The stock has a fifty-day moving average price of $12.29 and a two-hundred-day moving average price of $10.16.
Solaris Oilfield Infrastructure (NYSE:SOI – Get Rating) last announced its results on Thursday, April 28. The company reported earnings per share (EPS) of $0.11 for the quarter, beating consensus analyst estimates of $0.07 by $0.04. Solaris Oilfield Infrastructure posted a return on equity of 1.29% and a net margin of 2.03%. The company posted revenue of $56.92 million for the quarter, versus analyst estimates of $52.20 million. Sell-side analysts expect Solaris Oilfield Infrastructure to post earnings per share of 0.64 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Tuesday, June 7 received a dividend of $0.105 per share. This represents a dividend of $0.42 on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, June 6. Solaris Oilfield Infrastructure’s dividend payout ratio is currently 381.85%.
Separately, insider Christopher M. Powell sold 10,000 shares of the company in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $12.07, for a total value of $120,700.00. Following the transaction, the insider now directly owns 61,831 shares of the company, valued at $746,300.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, CAO Lindsay R. Bourg sold 6,796 shares of the company in a trade that took place on Tuesday, May 31. The shares were sold at an average price of $13.99, for a total value of $95,076.04. Following completion of the transaction, the chief accounting officer now owns 23,250 shares of the company, valued at $325,267.50. The disclosure of this sale can be found here. Insiders sold 81,037 shares of the company worth $1,039,347 during the last quarter. 31.23% of the shares are currently held by insiders.
Several institutional investors have recently bought and sold shares of SOI. THRC Management LLC purchased a new stake in shares of Solaris Oilfield Infrastructure during the fourth quarter for a value of $17,886,000. Wellington Management Group LLP purchased a new equity stake in Solaris Oilfield Infrastructure during the first quarter for a value of $6,115,000. Russell Investments Group Ltd. increased its position in Solaris Oilfield Infrastructure shares by 70.2% during the first quarter. Russell Investments Group Ltd. now owns 980,399 shares of the company worth $11,065,000 after acquiring an additional 404,445 shares during the period. RK Capital Management LLC increased its position in shares of Solaris Oilfield Infrastructure by 80.3% during the first quarter. RK Capital Management LLC now owns 706,000 shares of the company worth $7,971,000 after acquiring an additional 314,400 shares during the period. Finally, Acuitas Investments LLC increased its stake in shares of Solaris Oilfield Infrastructure by 40.3% during the fourth quarter. Acuitas Investments LLC now owns 662,776 shares of the company worth $4,341,000 after purchasing an additional 190,261 shares in the last quarter. 70.21% of the shares are currently held by institutional investors and hedge funds.
Separately, Piper Sandler raised its price target on Solaris Oilfield Infrastructure from $10.00 to $12.00 and gave the company a “neutral” rating in a Monday, March 7 research report.
Solaris Oilfield Infrastructure Company Profile (Get an evaluation)
Solaris Oilfield Infrastructure, Inc designs, manufactures and sells mobile equipment to offload, store and deliver proppants, water and chemicals to oil and natural gas well sites in the United States. It is involved in the transshipment and storage of proppants or wagons in its transshipment facility.
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